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And I have actually been honored to fulfill them and pleased to welcome them. Chairman Leahy. As my last inquiry, in some of the testimony this morning there has actually been a tip that, of training course, simply with all the hundreds of billions, trillions of dollars ready to spend, you must just go someplace else.


Stenger. I would certainly inform you that in this environment the capacity to raise capital for the points we are doing would certainly have-- it is impossible to do so in a fashion that would certainly permit us as efficiently and as quickly create things we have actually done. You can obtain money if you have actually got half down.


I might have obtained fifty percent of that if I had the $12 million in cash money to set up. Everybody recognizes that, yes, financial institutions have money 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 how organization functions these days.

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You are talking from a real-world experience, not from a think container experience. I will leave that simply as an unjustified comment from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I want to be liable in this concern of undocumented workers. I wish to confess that we just have anecdotal details, however I would love to ask you to what extent you have to go or do most likely to make certain that the centers ensure that the financial investments do not produce tasks for individuals right here illegally.


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


They are made up of 10, 15, 20, 30 employees. They are benefiting directly from the investment. I recognize the workers, I understand their households, and we have actually been able to utilize-- via these last 3 years of horrible financial turmoil, we have been able to utilize almost every building employee in our county and the surrounding regions.

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They are spent in the neighborhoods, and they are all United state employees. Legislator Grassley. Mr. Stenger.


Thank you. Mr. North, along the very same lines of the question I asked him, has your research shown examples various other-- and I just gave one instance, so I intend to admit that and be responsible regarding it-- of facilities working with undocumented individuals? Mr. North. That type of data is very tough to obtain from USCIS, and I should claim that what we do understand about a number of the internal features of that firm regarding this program is worried connects to situations in which the staff has actually said no to an application of some kind and afterwards the local facility or the individual business owner has gone to the Administrative Appeals Office-- which becomes part of the company-- and there we get papers, we obtain a hearing officer telling us what is going on because particular situation.




This is a negative application." So there is an amount of bad applications available, yet only as soon as that procedure obtains prior to an administrative legislation judge do we see much in the method of detail. Now, there was one instance that you stated, and allow me simply clarify on that particular a bit.

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Mr - EB5 Regional Center Program. North. The milk ranch had actually claimed 17 workers, and they got right into it, and the judge found that 16 of them were read more illegals.


Okay. I am going to ask separate inquiries of each of the 3 of you, however it manages this one problem. As I said in my opening statement, I am worried concerning the potential loophole that enables capitalists to withdraw their investment in local facilities after getting their permit.


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


Mr. Divine. Let me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his or her financial investment promptly after getting an eco-friendly card? Mr.


Senator, legislator.