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


Stenger. I would tell you that in this climate the capacity to raise funding for things we are doing would have-- it is impossible to do so in a fashion that would allow us as effectively and as rapidly develop the important things we have actually done. You can obtain money if you have actually got half down.


I can have obtained fifty percent of that if I had the $12 million in cash to set up. Everyone recognizes that, yes, financial institutions have money to loan as long as you have got half of it in your pocket before you request the other half. That is not exactly how company works these days.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that simply as an unjustified comment from the Chairman. Legislator Grassley. Senator Grassley. Thank you. I desire to be liable in this concern of undocumented workers. I want to confess that we only have unscientific information, however I want to ask you to what level you need to go or do most likely to see to it that the centers make sure that the financial investments do not produce jobs for individuals below unlawfully.


Mr. Stenger. Legislator, I am a hands-on proprietor of a company, and I am on-property each and every single day. We have actually employed-- as I claimed, at the Height we had 550 construction workers on our project. The marching orders that I provided to my group is that we are to work with neighborhood companies in nearly every circumstances to do every one of the building and construction.


They are comprised of 10, 15, 20, 30 workers. They are from our neighborhood areas. They are Vermonters. They are profiting straight from the financial investment. So we are a hands-on center. I understand the workers, I know their families, and we have been able to use-- via these last 3 years of dreadful financial turmoil, we have been able to employ almost every construction employee in our county and the surrounding counties.

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homeowners. They reside in the area. Their households exist. They are bought the neighborhoods, and they are all united state workers. Senator Grassley. You do not have to use e-verify, but I want to recognize whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thanks. Mr. North, along the same lines of the question I asked him, has your study revealed examples various other-- and I only gave one example, so I want to admit that and be responsible about it-- of centers hiring undocumented people? Mr. North. That kind of information is extremely difficult to get from USCIS, and I have to claim that what we do find out about a lot of the interior features of that agency as for this program is worried relates to instances in which the team has said no to an application of some kind and afterwards the regional center or the individual entrepreneur has actually gone to the Administrative Appeals Workplace-- which is part of the company-- and there we get papers, we get a hearing officer informing us what is taking place in that particular situation.




This is a negative application." There is an amount of negative applications out there, yet only when that procedure gets before a management regulation court do we see much in the way of information. Currently, there was one situation that you pointed out, and let me simply elaborate on that particular a little.

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Mr - EB5 Regional Center Program. North. The dairy ranch had declared 17 workers, and they obtained right into it, and the court discovered that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the 3 of you, yet it handles this one concern. As I stated in my opening statement, I am concerned concerning the possible technicality that enables financiers to withdraw their investment in regional facilities after obtaining their permit.


Divine, are you aware of any instances in which a financier took out the financial investment and walked away immediately after obtaining a permit? And if you are, or if you believe it is a problem, do you assume that it is a loophole that should be shut? Mr. Divine. I would state that a lot of the financiers, if you asked what are their objectives, they would certainly claim, "I wish to obtain an eco-friendly card, and I want to maintain it.


If I place my money in a resort advancement-- Legislator Grassley. Can I assume then that you are stating that there does not require to be any modifications made in that respect? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his/her financial investment quickly after receiving a permit? Mr.

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Legislator, no. Our programs need that the financier be invested for a minimum of 5 years and be paid back only if business remains in a setting to do so at the end of that time. So we have the advantage of the funding to develop the organization, obtain it running, make it successful, ensure that the jobs will be created and more info kept, and after that just if business is effective will there be an exit approach for the financier.