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And I have actually been happy to fulfill them and pleased to welcome them. Chairman Leahy. As my last inquiry, in some of the testament this morning there has been a pointer that, of course, just with all the hundreds of billions, trillions of bucks all set to invest, you must just go somewhere else.


Stenger. I would certainly inform you that in this climate the ability to raise capital for the points we are doing would certainly have-- it is difficult to do so in a way that would permit us as effectively and as swiftly create the things we have actually done. You can obtain money if you have obtained 50 percent down.


I might have borrowed half of that if I had the $12 million in cash money to install. Everybody understands that, yes, banks have money to loan as long as you have actually got half of it in your pocket prior to you request for the various 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 brain trust experience. I will certainly leave that just as an unjustified comment from the Chairman. Senator Grassley. Senator Grassley. Thank you. I desire to be responsible in this problem of undocumented employees. I intend to admit that we only have unscientific information, however I wish to ask you to what level you have to go or do go to make certain that the facilities make sure that the investments do not produce jobs for individuals right here unlawfully.


Mr. Stenger. We have hired-- as I said, at the Height we had 550 building employees on our job.


They are made up of 10, 15, 20, 30 employees. They are benefiting straight from the investment. I understand the workers, I recognize their families, and we have been able to employ-- via these last 3 years of terrible financial chaos, we have been able to employ nearly every construction employee in our region and the surrounding areas.

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


Thank you. Mr. North, along the same lines of the concern I asked him, has your research study revealed examples other-- and I only offered this article one example, view it now so I intend to confess that and be responsible about it-- of facilities hiring undocumented individuals? Mr. North. That sort of information is extremely tough to obtain from USCIS, and I should claim that what we do find out about most of the internal things regarding that agency as for this program is concerned associates with instances in which the staff has stated no to an application of some kind and after that the local facility or the individual entrepreneur has gone to the Administrative Appeals Office-- which is component of the firm-- and there we obtain records, we get a hearing policeman telling us what is taking place because particular situation.




This is a negative application." There is a quantity of negative applications out there, however only once that procedure obtains before an administrative legislation judge do we see much in the means of see page detail. Now, there was one case that you stated, and allow me just elaborate on that a little.

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Mr - EB5 Regional Center Program. North. The dairy ranch had actually declared 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, yet it deals with this set problem. As I stated in my opening declaration, I am concerned regarding the potential loophole that permits capitalists to withdraw their financial investment in regional centers after getting their environment-friendly card.


Divine, are you aware of any type of circumstances in which a capitalist took out the investment and walked away instantly after receiving a permit? And if you are, or if you assume it is an issue, do you think that it is a technicality that should be closed? Mr. Divine. I would certainly state that a lot of the financiers, if you inquired what are their goals, they would claim, "I intend to obtain a permit, and I wish to keep it.


If I put my money in a hotel growth-- Legislator Grassley. Can I assume then that you are saying that there does not need to be any kind of changes made in that regard? Mr. Divine. I do not assume so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it common for a financier in your experience to withdraw his/her financial investment instantly after getting an eco-friendly card? Mr.

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Legislator, no. Our programs call for that the financier be invested for a minimum of 5 years and be paid back just if the business is in a setting to do so at the end of that time. We have the advantage of the resources to produce the company, obtain it running, make it effective, guarantee that the jobs will certainly be produced and maintained, and after that just if the organization is successful will there be a departure technique for the investor.