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And I have been pleased to satisfy them and proud to welcome them. Chairman Leahy. As my last inquiry, in some of the statement this early morning there has actually been a pointer that, of course, simply with all the hundreds of billions, trillions of dollars ready to spend, you must just go somewhere else.

Stenger. I would certainly tell you that in this climate the capability to raise resources for the points we are doing would certainly have-- it is difficult to do so in a way that would allow us as effectively and as swiftly produce things we have actually done. You can obtain money if you have obtained 50 percent down.


I can have borrowed fifty percent of that if I had the $12 million in cash money to install. Everybody recognizes that, yes, banks have cash to finance as long as you have actually got fifty percent of it in your pocket prior to you ask for the other half. That is not how service functions these days.

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You are talking from a real-world experience, not from a think tank experience. I will certainly leave that simply as a gratuitous remark from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I wish to be accountable in this problem of undocumented workers. I intend to admit that we only have unscientific information, however I wish to ask you to what extent you have to go or do go to see to it that the centers make certain that the investments do not develop jobs for people right here unlawfully.


Mr. Stenger. Senator, I am a hands-on owner of a company, and I am on-property each and every single day. We have employed-- as I said, at the Optimal we had 550 construction workers on our task. The marching orders that I offered to my group is that we are to work with local companies in almost every instance to do every one of the construction.


They are composed of 10, 15, 20, 30 staff members. They are from our neighborhood areas. They are Vermonters. They are profiting directly from the investment. So we are a hands-on facility. I recognize the workers, I know their family members, and we have actually been able to utilize-- through these last 3 years of dreadful economic turmoil, we have actually been able to utilize almost every building worker in our region and the surrounding counties.

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locals. They stay in the area. Their families exist. They are purchased the neighborhoods, and they are all united state employees. Legislator Grassley. You do not have to make use of e-verify, but I would such as to recognize whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the same lines of the question I asked him, has your research revealed instances various other-- and I just provided one example, so I want to admit website that and be accountable regarding it-- of centers employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a negative application." There is an amount of bad applications out there, but just when that procedure obtains before an administrative law judge do we see much in the means of detail. Currently, there was one case that you pointed out, and allow me just specify on that particular a little bit.

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Do not take as well long due to the fact that I intend to ask one more pair concerns. However go ahead and swiftly coating. Mr. North. The dairy products farm had claimed 17 workers, and they got into it, and the judge found that 16 of them were illegals. Currently, that is the one instance I have, and it is an excellent example.


Okay. I am going to ask separate questions of each of the 3 of you, however it handles this problem. As I stated in my opening statement, I am worried regarding the possible loophole that allows capitalists to withdraw their financial investment in regional centers after obtaining their environment-friendly card.


Divine, are you mindful of any circumstances in which a financier took out the investment and strolled away promptly after receiving a permit? And if you are, or if you believe it is a problem, do you assume that it is a loophole that should be shut? Mr. Divine. I would say that a lot of the investors, if you asked what are their goals, they would certainly state, "I intend to obtain a permit, and I wish to keep it.

If I place my money in a resort development-- Senator Grassley. Can I think then that you are claiming that there does not need to be any type of modifications made because regard? Mr. Divine. I do not think so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his or her investment promptly after obtaining a permit? Mr.

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Senator, no. Our programs require that the financier be spent for a minimum of 5 years and be paid back only if business remains in a position to do so at the end of that time. So we have the advantage of the capital to create business, obtain it running, make it effective, ensure that the tasks will be created and preserved, and then just if the business succeeds will there be an exit strategy for the capitalist.