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And I have been pleased to meet them and happy to invite them. Chairman Leahy. Likewise, as my last question, in a few of the testament this morning there has actually been a tip that, of program, simply with all the numerous billions, trillions of dollars prepared to spend, you should simply go elsewhere.

Stenger. I would certainly tell you that in this climate the ability to raise capital for the points we are doing would certainly have-- it is difficult to do so in a way that would allow us as efficiently and as promptly produce the important things we have done. You can obtain cash if you have got half down.

I might have borrowed half of that if I had the $12 million in cash money to set up. Everybody knows that, yes, financial institutions have cash to financing as long as you have actually got fifty percent of it in your pocket prior to you request the other half. That is not just how business functions these days.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that merely as a gratuitous remark from the Chairman. Senator Grassley. Senator Grassley. Thank you. I intend to be liable in this problem of undocumented employees. I wish to confess that we only have anecdotal info, yet I want to ask you to what level you have to go or do go to see to it that the facilities ensure that the investments do not create tasks for individuals here illegally.

Mr. Stenger. We have hired-- as I stated, at the Height we had 550 building and construction employees on our job.

They are made up of 10, 15, 20, 30 employees. They are profiting straight from the financial investment. I understand the workers, I know their families, and we have been able to use-- via these last 3 years of dreadful financial chaos, we have been able to use almost every building and construction worker in our area and the surrounding regions.

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locals. They live in the location. Their families are there. They are bought the areas, and they are all U.S. employees. Senator Grassley. You do not have to utilize e-verify, but I would love to know whether you do. Mr. Stenger. We do. Senator Grassley. You do.

Mr. North, along the very same lines of the question I asked him, has your research shown examples various other-- and I just gave one example, so I desire to confess that and be liable concerning it-- of facilities working with undocumented individuals? Mr. EB5 Regional Center Program. North.



This is a negative application." So there is an amount of negative applications available, however only once that procedure gets before an administrative law court do we see much in the way of detail. Now, there was one case that you discussed, and let me simply elaborate on that a little.

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Mr look at these guys - EB5 Regional Center Program. North. The dairy ranch had actually declared 17 workers, and they got into it, and the judge located that 16 of them were illegals.

Okay. I am mosting likely to ask different concerns of each of the three of you, but it manages this set problem. As I stated in my opening statement, I am concerned about the potential technicality that permits financiers to withdraw their investment in regional facilities after getting their eco-friendly card.

Divine, are you mindful of any type of instances in which a financier withdrew the investment and walked away promptly after getting an eco-friendly card? And if you are, or if you think it is a trouble, do you assume that it is a loophole that should be closed? Mr. Divine. I would certainly say that most of the my site capitalists, if you asked what are their goals, they would certainly say, "I desire to get a permit, and I intend to keep it.

If I place my money in a hotel advancement-- Senator Grassley. Can I assume then that you are claiming that there does not need to be any modifications made because respect? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his or her investment promptly after receiving a permit? Mr.

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Legislator, no. Our programs call for that the financier be spent for a minimum of 5 years and be repaid just if business remains in a position to do so at the end of that time. We have the advantage of the resources to create the company, get it running, make it effective, guarantee that the work will certainly be produced and kept, and after that only if the business is effective will certainly there our website be an exit approach for the financier.

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