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And I have been proud to meet them and pleased to invite them. Chairman Leahy. Also, as my last question, in some of the testament today there has been a pointer that, of training course, simply with all the thousands of billions, trillions of dollars prepared to spend, you need to simply go elsewhere.


Stenger. I would inform you that in this environment the capacity to increase capital for the points we are doing would have-- it is impossible to do so in a manner that would permit us as efficiently and as quickly create the things we have actually done. You can obtain money if you have actually obtained half down.


I could have obtained half of that if I had the $12 million in money to install. Every person understands that, yes, financial institutions have money to financing as long as you have actually obtained half of it in your pocket before you request for the other fifty percent. That is not just how organization works these days.

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Senator Grassley. Legislator Grassley. I desire to admit that we only have unscientific details, however I would certainly such as to ask you to what extent you have to go or do go to make sure that the centers make certain that the investments do not produce jobs for individuals below illegally.


Mr. Stenger. We have actually worked with-- as I claimed, at the Peak we had 550 construction workers on our project.


They are made up of 10, 15, 20, 30 employees. They are from our regional regions. They are Vermonters. They are benefiting directly from the investment. We are a hands-on center. I understand the employees, I understand their family members, and we have actually had the ability to use-- with these last 3 years of awful economic turmoil, we have been able to use almost every construction worker in our county and the bordering areas.

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They are invested in the neighborhoods, and they are all U.S. employees. Legislator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the concern I asked him, has your research study revealed instances other-- and I just offered one instance, so I desire to confess that and be responsible regarding it-- of centers employing undocumented people? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is a quantity of bad applications available, but just once that process gets prior to a management legislation judge do we see much in the means of information. Currently, there was one case that you stated, and allow me simply elaborate on that particular a little.

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Do not take also long due to the fact that I wish to ask an additional couple inquiries. Go ahead and quickly surface. Mr. North. The milk farm had claimed 17 employees, and they got involved in it, and the judge discovered that 16 of them were illegals. Now, that is the one instance I have, and it is an example.


Okay. I am going to ask separate questions of each of the three of you, yet it deals with this problem. As I said in my opening statement, I am worried concerning the potential loophole that allows capitalists to withdraw their financial investment in local facilities after obtaining their eco-friendly card.


Mr. Divine. I would certainly say that most of the capitalists, if you asked them what are their objectives, they would claim, "I want to get an environment-friendly card, and I want to keep it.


If I put my cash in a resort development-- Senator Grassley. Can I think then that you are saying that there does not require to be any kind of changes made in that regard? Mr. Divine. I do not assume so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it common for a financier in your experience to withdraw his/her financial investment right away after getting EB5 Regional Center Program an environment-friendly card? Mr.

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Legislator, no. Our programs call for that the capitalist be spent for a minimum of 5 years and be repaid just if the service remains in a setting to do so at the end of that time. We have the benefit of the resources to produce the company, get it running, make it successful, assure that the work will certainly be created and kept, and after that only if the company is successful will certainly there be a departure strategy for the investor.