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And I have been proud to meet them and proud to invite them. Chairman Leahy. Also, as my last concern, in a few of the testament this morning there has been a pointer that, obviously, simply with all the thousands of billions, trillions of dollars ready to invest, you must simply go someplace else.

Stenger. I would tell you that in this environment the capability to raise capital for things we are doing would have-- it is difficult to do so in a manner that would enable us as successfully and as swiftly create things we have actually done. You can borrow money if you have got 50 percent down.

I could have borrowed fifty percent of that if I had the $12 million in cash money to place up. Everyone understands that, yes, financial institutions have money to car loan as long as you have obtained fifty percent of it in your pocket prior to you ask for the other half. That is not how organization functions nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will leave that merely as an unjustified remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I want to be liable in this issue of undocumented workers. I intend to confess that we just have anecdotal info, yet I would certainly like to ask you to what degree you need to go or do go to see to it that the facilities make certain that the financial investments do not produce jobs for individuals right here illegally.

Mr. Stenger. Legislator, I am a hands-on proprietor of a company, and I am on-property every single day. We have actually worked with-- as I said, at the Height we had 550 building workers on our task. The marching orders that I gave to my team is that we are to hire regional business in practically every circumstances to do every one of the building and construction.

They are comprised of 10, 15, 20, 30 staff members. They are from our local regions. They are Vermonters. They are benefiting directly from the investment. We are a hands-on center. I recognize the employees, I understand their family members, and we have actually been able to utilize-- via these last 3 years of horrible financial turmoil, we have been able to employ nearly every construction employee in our area and the bordering regions.

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

Mr. North, along the exact same lines of the question I asked him, has your study shown instances other-- and I just offered one instance, so I want to confess that and be liable regarding it-- of centers employing undocumented individuals? Mr. EB5 Regional Center Program. North.



This is a poor application." So there is an amount of negative applications around, yet just when that procedure obtains prior to an administrative law court do we see a lot in the method of information. Currently, there was one situation that you discussed, and allow me simply elaborate on that a little.

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Do not take as well long due to the fact that I intend to ask another couple questions. However proceed and quickly finish. Mr. North. The dairy products farm had claimed 17 workers, and they got involved in it, and the court found that 16 of them were illegals. Now, that is the one example I have, and it is an example.

Okay. I am going to ask separate inquiries of each of the 3 of you, but it handles this one problem. As I said in my opening declaration, I am worried concerning the possible technicality that permits financiers to withdraw their investment in local centers after receiving their permit.

Divine, are you knowledgeable about any circumstances in which a financier withdrew the financial investment and left promptly after getting a copyright? 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 most of the capitalists, if you asked what are their goals, they would certainly state, "I intend to get a permit, and I wish to maintain it.

Mr. Divine. Let me ask Mr. Stenger, is it common for a capitalist in your experience to withdraw his or her investment instantly after receiving an environment-friendly card? Mr.

Senator, no.

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