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And I have actually been pleased to meet them and proud to invite them. Chairman Leahy. As my last concern, in some of the statement this morning there has actually been a suggestion that, of program, just with all the hundreds of billions, trillions of bucks ready to invest, you should simply go someplace else.

Stenger. I would tell you that in this environment the ability to raise funding for the important things we are doing would have-- it is impossible to do so in a way that would certainly allow us as effectively and as swiftly produce things we have done. You can obtain money if you have got 50 percent down.


I might have obtained half of that if I had the $12 million in cash to place up. Every person knows that, yes, financial institutions have money to car loan as long as you have actually obtained fifty percent of it in your pocket prior to you request the other half. That is not exactly how organization works these days.

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You are talking from a real-world experience, not from a think container experience. I will certainly leave that just as a gratuitous remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I desire to be accountable in this issue of undocumented employees. I intend to confess that we only have unscientific information, yet I want to ask you to what extent you need to go or do go to see to it that the centers see to it that the financial investments do not create work for individuals right here illegally.


Mr. Stenger. We have actually worked with-- as I said, at the Peak we had 550 construction workers on our project.


They are made up of 10, 15, 20, 30 workers. They are from our regional areas. They are Vermonters. They are profiting straight from the investment. We are a hands-on facility. I understand the workers, I understand their households, and we have been able to utilize-- with these last 3 years of horrible financial turmoil, we have actually had the ability to utilize almost every construction worker in our region and the surrounding counties.

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homeowners. They live in the location. Their families exist. They are purchased the areas, and they are all united state workers. Legislator Grassley. You do not have to use e-verify, however I want to know whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the very same lines of the concern I asked him, has your research study revealed examples other-- and I only provided one example, so I want to confess that and be responsible concerning it-- of facilities working with undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is an amount of bad applications around, yet only as soon as that process obtains before an administrative legislation judge do we see much in the way of information. Currently, there was one case that you stated, and let me just clarify on that a little.

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Do not take also long due to the fact that I want to ask an additional couple concerns. Yet go on and swiftly finish. Mr. North. The dairy products farm had actually asserted 17 employees, and they obtained into it, and the judge found that 16 of them were illegals. Now, that is the one example I have, and it is an excellent example.


Okay. I am mosting likely to ask different questions of each of the three of you, yet it deals with this issue. As I stated in my more info opening declaration, I am worried concerning the possible loophole that allows financiers to withdraw their investment in regional facilities after receiving their copyright.


Divine, are you familiar with any type of instances in which a financier took out the investment and left quickly after obtaining 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 most of the investors, if you inquired what are their goals, they would certainly say, "I intend to get a permit, and I wish to keep it.

If I put my cash in a hotel advancement-- Legislator Grassley. Can I assume then that you are stating that there does not require to be any changes made because regard? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his/her investment instantly after obtaining a permit? Mr.

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Legislator, no. Our programs call for that the investor be spent for a minimum of 5 years and be repaid only if the business remains in a position to do so at the end of that time. We have the advantage of the funding to create the business, obtain it running, make it effective, guarantee that the jobs will certainly be created and maintained, and after that only if the business is successful will certainly there be a departure technique for the capitalist.