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And I have been proud to satisfy them and honored to welcome them. Chairman Leahy. Also, as my last concern, in some of the testimony this morning there has actually been a tip that, naturally, simply with all the hundreds of billions, trillions of bucks all set to spend, you need to just go elsewhere.


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Stenger. I would tell you that in this environment the ability to elevate capital for the important things we are doing would certainly have-- it is difficult to do so in a manner that would certainly allow us as effectively and as rapidly produce the important things we have actually done. You can borrow money if you have obtained half down.


I might have obtained half of that if I had the $12 million in money to install. Everybody recognizes that, yes, banks have cash to financing as long as you have actually got half of it in your pocket before you request for the other half. That is not how service functions nowadays.


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Senator Grassley. Legislator Grassley. I desire to admit that we only have anecdotal info, yet I would like to ask you to what degree you have to go or do go to make certain that the facilities make certain that the financial investments do not create jobs for people right here unlawfully.


Mr. Stenger. Legislator, I am a hands-on proprietor of a business, and I am on-property every day. We have employed-- as I claimed, at the Peak we had 550 building workers on our job. The marching orders that I provided to my group is that we are to work with local companies in almost every instance to do all of the construction.


They are made up of 10, 15, 20, 30 workers. They are benefiting directly from the financial investment. I understand the workers, I know their family members, and we have actually been able to use-- via these last 3 years of dreadful financial chaos, we have been able to employ nearly every building worker in our county and the bordering areas.


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They are spent in the communities, and they are More Info all U.S. employees. Legislator Grassley. Mr. Stenger.


Thanks. Mr. North, along the same lines of the concern I asked him, has your study shown examples various other-- and I just gave one example, so I intend to confess that and be responsible regarding it-- of facilities hiring undocumented individuals? Mr. North. That sort of data is really hard to acquire from USCIS, and I should say that what we do find out about much of the internal features of that company regarding this program is worried associates with situations in which the staff has stated no to an application of some kind and after that the regional center or the private business owner has actually gone to the Administrative Appeals Office-- which belongs to the company-- and there we obtain papers, we get a hearing police officer telling us what is taking place because certain instance.




This is a poor application." There is an amount of bad applications out there, yet just once that procedure obtains prior to a management legislation judge do we see a lot in the method of detail. Currently, there was one instance that you stated, from this source and allow me just elaborate on that a little bit.


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EB5 Regional Center ProgramEB5 Regional Center Program


Do not take also long due to the fact that I want to ask one more couple concerns. Go in advance and promptly coating. Mr. North. The milk ranch had actually asserted 17 employees, and they got involved in it, and the judge discovered that this page 16 of them were illegals. Now, that is the one example I have, and it is a fine example.


Okay. I am mosting likely to ask different concerns of each of the three of you, yet it deals with this set issue. As I stated in my opening declaration, I am concerned about the potential technicality that permits investors to withdraw their investment in regional facilities after obtaining their permit.


Divine, are you mindful of any type of instances in which an investor withdrew the investment and strolled away immediately after obtaining an environment-friendly card? And if you are, or if you think it is a trouble, do you think that it is a loophole that should be closed? Mr. Divine. I would certainly claim that most of the investors, if you inquired what are their goals, they would certainly state, "I intend to obtain an eco-friendly card, and I wish to maintain it.


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Mr. Divine. Allow me ask Mr. Stenger, is it common for a capitalist in your experience to withdraw his or her investment promptly after getting a copyright? Mr.


Senator, no.

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