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And I have been honored to satisfy them and happy to welcome them. Chairman Leahy. Additionally, as my last concern, in some of the statement this early morning there has actually been a tip that, of course, simply with all the thousands of billions, trillions of dollars ready to invest, you must simply go somewhere else.


Stenger. I would tell you that in this climate the ability to elevate funding for the important things we are doing would have-- it is impossible to do so in a manner that would allow us as properly and as rapidly produce the important things we have done. You can borrow cash if you have actually got 50 percent down.


I might have obtained fifty percent of that if I had the $12 million in cash to set up. Everybody understands that, yes, banks have cash to financing as long as you have actually got half of it in your pocket prior to you request for the other half. That is not just how organization functions nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will leave that simply as a gratuitous remark from the Chairman. Legislator Grassley. Senator Grassley. Thank you. I intend to be responsible in this concern of undocumented employees. I wish to confess that we only have anecdotal details, however I would such as to ask you to what level you have to go or do most likely to see to it that the facilities make certain that the financial investments do not create jobs for people right here unlawfully.


Mr. Stenger. We have employed-- as I stated, at the Height we had 550 building and construction employees 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. So we are a hands-on facility. I understand the workers, I know their households, and we have been able to employ-- through these last 3 years of terrible financial chaos, we have been able to use virtually every building and construction employee in our county and the bordering counties.

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homeowners. They live in the location. Their family members are there. They are spent in the neighborhoods, and they are all united state workers. Legislator Grassley. You do not need to utilize e-verify, but I wish to understand whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the exact same lines of the concern I asked him, has your research shown examples other-- and check here I only gave one instance, so I desire to admit that and be responsible regarding it-- of facilities employing undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is a quantity of bad applications available, however just as soon as that process gets before a management legislation court do we see much in the means of detail. Now, there was one situation that you pointed out, and allow me simply specify on that a little bit.

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


Okay. I am going to ask different concerns of each of the 3 of you, but it deals with this set problem. As I stated in my opening statement, I am worried concerning the possible loophole that permits financiers to withdraw their financial investment in regional centers after obtaining their environment-friendly card.


Mr. Divine. I would state that most of the capitalists, if you asked them what are their goals, they would state, "I desire to obtain an environment-friendly card, and I want to keep it.


If I put my cash in a resort growth-- Legislator Grassley. Can I assume then that you are stating that there does not require to be any type of adjustments made in that regard? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his or her financial investment quickly after getting a permit? Mr.

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Legislator, no. Our programs call for that the investor be spent for a minimum of 5 years and be repaid just if the service remains in a placement to do so at the end of that time. So we have the benefit of the capital to produce business, get it running, make it successful, ensure that the tasks will certainly be produced and preserved, and after that just if business achieves success will there be a departure method for the financier.