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And I have actually been proud to meet them and proud to welcome them. Chairman Leahy. Also, as my last question, in a few of the testimony this morning there has actually been an idea that, certainly, just with all the numerous billions, trillions of bucks ready to spend, you ought to simply go someplace else.

Stenger. I would certainly inform you that in this environment the capability to raise capital for the points we are doing would certainly have-- it is impossible to do so in a fashion that would certainly enable us as successfully and as swiftly create the important things we have actually done. You can borrow cash if you have got 50 percent down.


I could have borrowed fifty percent of that if I had the $12 million in cash to install. Everybody knows that, yes, banks have money to finance as long as you have actually got half of it in your pocket before you request for the other half. That is not how organization works these days.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that simply as an unjustified remark from the Chairman. Legislator Grassley. Senator Grassley. Thanks. I wish to be responsible in this problem of undocumented workers. I intend to confess that we just have unscientific details, however I wish to ask you to what extent you need to go or do most likely to ensure that the centers make certain that the financial investments do not develop jobs for individuals below 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 actually worked with-- as I claimed, at the Top we had 550 construction employees on our task. The marching orders that I provided to my group is that we are to hire local companies in almost every instance to do all of the building.


They are made up of 10, 15, 20, 30 workers. They are profiting straight from the investment. I understand the employees, I know their households, and we have been able to use-- through these last 3 years of horrible economic chaos, we have actually been able to use virtually every construction employee in our area and the bordering regions.

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They are invested in the areas, and they are all United state workers. Senator Grassley. Mr. Stenger.


Mr. North, along the same lines of the inquiry I asked him, has your research study shown examples various other-- and I just offered one instance, so I want to confess that and be liable regarding it-- of facilities hiring undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is an amount of bad applications around, yet only as soon website link as that procedure obtains before an administrative law judge do we see a lot in the method of detail. Currently, there was one case that you mentioned, and allow me just elaborate on that a bit.

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Do not take too long since I wish to ask an additional couple concerns. Yet proceed and quickly surface. Mr. official site North. The dairy farm had declared 17 workers, and they entered it, and the judge found that 16 of them were illegals. Now, that is the one instance I have, and it is a fine example.


Okay. I am going to ask separate inquiries of each of the three of you, but it handles this one issue. As I said in my opening statement, I am concerned about the possible technicality that permits capitalists to withdraw their financial investment in local centers after obtaining their environment-friendly card.


Divine, are you knowledgeable about any type of instances in which an investor took out the financial investment and left promptly after getting a copyright? And if you are, or if you assume it is a trouble, do you believe that it is a loophole that should be shut? Mr. Divine. I would certainly state that the majority of the capitalists, if you asked what are their goals, they would claim, "I intend to get an try this web-site environment-friendly card, 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 investment right away after receiving an environment-friendly card? Mr.


Senator, no.