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And I have been happy to fulfill them and happy to invite them. Chairman Leahy. Also, as my last inquiry, in a few of the testament this morning there has actually been a tip that, naturally, simply with all the hundreds of billions, trillions of dollars prepared to spend, you should just go someplace else.


Stenger. I would tell you that in this climate the ability to increase funding for the important things we are doing would have-- it is impossible to do so in a manner that would permit us as efficiently and as rapidly produce the important things we have done. You can borrow money if you have got 50 percent down.


I could have obtained half of that if I had the $12 million in cash to set up. Everybody understands that, yes, banks have cash to loan as long as you have actually got half of it in your pocket prior to you ask for the various other fifty percent. That is not how business functions these days.

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Legislator Grassley. Senator Grassley. I want to confess that we just have unscientific details, but I would like to ask you to what degree you have to go or do go to make sure that the centers make sure that the investments do not produce work for individuals here illegally.


Mr. Stenger. We have actually worked with-- as I claimed, at the Peak we had 550 construction employees on our task.


They are made up of 10, 15, 20, 30 staff members. They are profiting directly from the investment. I know the employees, I recognize their households, and we have been able to employ-- via these last 3 years of horrible financial turmoil, we have been able to use nearly every building and construction employee in our region and the surrounding counties.

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


Mr. North, along the same lines of the question I asked him, has your research shown examples various other-- and I just offered one instance, so I desire to confess that and be accountable regarding it-- of centers employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is an amount of bad applications out there, yet just when that process obtains prior to an administrative law court do we see a lot in the method of detail. Now, there was one instance that you stated, and allow me simply elaborate on that a little bit.

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


Okay. I am going to ask different questions of each of the three of you, but it manages this set concern. As I said in my opening statement, I am concerned about the prospective technicality that permits investors to withdraw their investment in local centers after receiving their eco-friendly card.


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


If I place my money in a resort development-- Legislator Grassley. Can I assume then that you are saying that there does not require to be any modifications made because regard? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it common for an investor in your experience to withdraw his/her investment right away after receiving an eco-friendly card? Mr.

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Legislator, no. Our programs call for that the capitalist be invested for a minimum of 5 years and be paid back just if the organization remains in a position to do so at the end of that time. So we have the advantage of the resources to develop the service, get it running, make it successful, ensure that the work will certainly be created and preserved, and afterwards only if the organization succeeds will there be a leave strategy for the investor.