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And I have been pleased to fulfill them and honored to welcome them. Chairman Leahy. Also, as my last concern, in some of the statement today there has been a suggestion that, obviously, simply with all the hundreds of billions, trillions of bucks ready to invest, you should simply go somewhere else.


Stenger. I would inform you that in this climate the ability to elevate resources for the things we are doing would have-- it is difficult to do so in a way that would enable us as efficiently and as rapidly create the important things we have done. You can borrow cash if you have actually got half down.


I might have obtained fifty percent of that if I had the $12 million in money to put up. Every person understands that, yes, banks have cash to car loan as long as you have actually got half of it in your pocket before you ask for the other fifty percent. That is not exactly how business works nowadays.

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Legislator Grassley. Legislator Grassley. I desire to confess that we just have anecdotal information, but I would like to ask you to what degree you have to go or do go to make certain that the centers make sure that the investments do not create work for individuals right here unlawfully.


Mr. Stenger. We have hired-- as I said, at the Peak we had 550 construction workers on our job.


They are composed of 10, 15, 20, 30 staff members. They are from our local areas. They are Vermonters. They are profiting directly from the investment. We are a hands-on center. I know the workers, I know their households, and we have been able to use-- through these last 3 years of terrible economic turmoil, we have had the ability to employ nearly every building and construction worker in our region and the bordering counties.

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homeowners. They live in the location. Their households exist. They are purchased the communities, and they are all united state employees. Senator Grassley. You do not need to make use of e-verify, but I would love to understand whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the very same lines of the concern I asked him, has your study shown instances various other-- and I only offered check one instance, so I want to confess 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, yet only once that process gets prior to an administrative regulation judge do we see much in the way of detail. Currently, there was one instance that you pointed out, and allow me just clarify on that particular a bit.

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


Okay. I am going to ask separate questions of each of the three of you, but it deals with this set problem. As I claimed in my opening statement, I More about the author am concerned concerning the possible technicality that permits capitalists to withdraw their financial investment in regional facilities after getting their eco-friendly card.


Mr. Divine. I would certainly state that many of the investors, if you asked them what are their goals, they would certainly say, "I desire to obtain an environment-friendly card, and I desire to maintain it.


If I place my money in a resort growth-- Legislator Grassley. Can I think then that you are stating that there does not need to be any type of adjustments made in that respect? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it common for a capitalist in your experience to withdraw his/her investment right away after receiving 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 just if the service remains in a placement to do so at the end of that time. So we have the advantage of the resources to develop business, obtain it running, make it successful, guarantee that the work will be developed and kept, and afterwards only visit here if business is effective will there be a departure approach for the capitalist.