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And I have actually been pleased to meet them and happy to welcome them. Chairman Leahy. As my last question, in some of the testament this early morning there has actually been an idea that, of program, simply with all the hundreds of billions, trillions of bucks prepared to spend, you should just go someplace else.

Stenger. I would certainly inform you that in this climate the ability to raise capital for the important things we are doing would have-- it is impossible to do so in a way that would certainly allow us as successfully and as rapidly produce things we have actually done. You can borrow cash if you have obtained 50 percent down.


I might have borrowed fifty percent of that if I had the $12 million in cash to put up. Every person understands that, yes, banks have cash to funding as long as you have actually got fifty percent of it in your pocket prior to you request the various other fifty percent. That is not how service functions nowadays.

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You are speaking from a real-world experience, not from a think tank experience. I will certainly leave that just as an unjustified comment from the Chairman. Senator Grassley. Legislator Grassley. Thank you. I want to be liable in this issue of undocumented employees. I intend to confess that we only have unscientific information, however I want to ask you to what degree you need to go or do go to make certain that the centers see to it that the financial investments do not develop tasks for people here illegally.


Mr. Stenger. We have employed-- as I claimed, at the Peak we had 550 building employees on our job.


They are composed of 10, 15, 20, 30 staff members. They are from our local regions. They are Vermonters. They are profiting straight from the investment. We are a hands-on center. I understand the workers, I recognize their households, and we have actually had the ability to utilize-- with these last 3 years of awful financial chaos, we have actually been able to employ nearly every construction worker in our county and the surrounding areas.

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residents. They live in the location. Their family members are there. They are invested in the communities, and they are all united state employees. Senator Grassley. You do not need to use e-verify, however I would love 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 study get more info shown examples various other-- and I just offered one example, so I desire to admit that and be liable regarding it-- of centers hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is an amount of bad applications around, however just as soon as that process obtains before a management legislation judge do we see much in the way of information. Now, there was one case that you discussed, and let me simply clarify on that particular a little bit.

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Mr - EB5 Regional Center Program. North. The dairy products ranch had asserted 17 employees, and they got into it, and the judge found that 16 of them were illegals.


Okay. I am mosting likely to ask different questions of each of the 3 of you, however it handles this issue. As I said in my opening statement, I am concerned about the possible loophole that allows capitalists to withdraw their investment in regional centers after receiving their environment-friendly card.


Divine, are you familiar with any kind of instances in which a capitalist took out the financial investment and left quickly after getting a permit? And if you are, or if you think it is a problem, do you believe that it is a technicality that should be closed? Mr. Divine. I would state that the majority of the capitalists, if you inquired what are their goals, they would certainly say, "I intend to get a permit, and I intend to maintain it.

Mr. Divine. Allow me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his or her financial investment immediately after receiving an eco-friendly card? Mr.


Senator, no.