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And I have been happy to meet them and honored to welcome them. Chairman Leahy. As my last concern, in some of the statement this early morning there has actually been an idea that, of program, simply with all the hundreds of billions, trillions of bucks all set to invest, you should simply go someplace else.


Stenger. I would certainly tell you that in this climate the capability to increase capital for things we are doing would certainly have-- it is difficult to do so in a manner that would allow us as effectively and as swiftly produce the important things we have done. You can borrow cash if you have actually obtained 50 percent down.


I might have borrowed half of that if I had the $12 million in cash to put up. Every person understands that, yes, financial institutions have money to funding as long as you have obtained fifty percent of it in your pocket prior to you request the various other fifty percent. That is not exactly how organization functions nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will certainly leave that just as an unjustified remark from the Chairman. Legislator Grassley. Senator Grassley. Thanks. I wish to be responsible in this concern of undocumented workers. I desire to confess that we only have anecdotal details, however I wish to ask you to what extent you need to go or do go to see to it that the centers see to it that the investments do not create jobs for individuals right here unlawfully.


Mr. Stenger. Legislator, I am a hands-on proprietor of an organization, and I am on-property every day. We have actually worked with-- as I stated, at the Peak we had 550 building and construction employees on our job. The marching orders that I provided to my group is that we are to work with regional firms in nearly every circumstances to do every one of the construction.


They are made up of 10, 15, 20, 30 staff members. They are profiting straight from the investment. I understand the workers, I know their households, and we have been able to use-- through these last 3 years of terrible economic turmoil, we have actually been able to utilize nearly every building and construction worker in our county and the surrounding counties.

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They are invested in the areas, and they are all United state workers. Senator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the inquiry I asked him, has your research shown examples various other-- and I just provided one instance, so I desire to admit that and be accountable about it-- of facilities hiring undocumented people? Mr. EB5 Regional Center Program. North.




This EB5 Regional Center Program is a bad application." There is an amount of bad applications out there, however just as soon as that process obtains before a management regulation court do we see a lot in the means of information. Now, there was one instance that you mentioned, and let me just specify on that particular a little.

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Mr - EB5 Regional Center Program. North. The dairy products farm had actually asserted 17 workers, and they obtained right into it, and the judge located that 16 of them were illegals.


Okay. I am mosting likely to ask different inquiries of each of the 3 of you, yet it handles this set problem. As I stated in my opening statement, I am worried about the possible technicality that enables financiers to withdraw their investment in regional centers after obtaining their permit.


Divine, are you knowledgeable about any kind of circumstances in which a capitalist took out the investment and walked away quickly after receiving a permit? And if you are, or if you believe it is a problem, do you think that it is a technicality that should be closed? Mr. Divine. I would claim that most of the financiers, if you inquired what are their objectives, they would certainly say, "I intend to get a permit, and I want to keep it.


Mr. Divine. Let me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his or her investment quickly after receiving an environment-friendly card? Mr.


Senator, legislator.