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And I have been pleased to satisfy them and pleased to invite them. Chairman Leahy. As my last concern, in some of the testament this morning there has actually been a recommendation that, of training course, simply with all the hundreds of billions, trillions of dollars all set to invest, you need to simply go someplace else.


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


I might have borrowed fifty percent of that if I had the $12 million in cash money to place up. Everybody understands that, yes, financial institutions have money to finance as long as you have got half of it in your pocket before you request for the other fifty percent. That is not exactly how business functions these days.

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Senator Grassley. Legislator Grassley. I want to confess that we just have anecdotal info, yet I would certainly 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 develop jobs for individuals below illegally.


Mr. Stenger. Senator, I am a hands-on owner of a company, and I am on-property each and every single day. We have actually worked with-- as I stated, at the Height we had 550 building employees on our task. The marching orders that I gave to my group is that we are to employ neighborhood business in virtually every instance to do every one of the building.


They are made up of 10, 15, 20, 30 employees. They are profiting straight from the investment. I recognize the employees, I know their family members, and we have actually been able to employ-- through these last 3 years of horrible financial turmoil, that site we have been able to use nearly every building and construction worker in our region and the surrounding regions.

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They are spent in the communities, and they are all United state workers. Legislator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the question I asked him, has your research shown instances various other-- and I just gave one instance, so I want to admit that and be responsible regarding it-- of centers employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is an amount of negative applications out there, however only once that procedure obtains basics before an administrative regulation court do we see a lot in the method of information. Currently, there was one instance that you discussed, and let me just specify on that particular a little.

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Do not take too long due to the fact that I want to ask another couple concerns. Go ahead and promptly finish. Mr. North. The dairy products ranch had actually asserted 17 workers, and they got involved in it, and the judge discovered 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 concerns of each of the 3 of you, but it manages this problem. As I said in my opening declaration, I am worried regarding the potential loophole that permits capitalists to withdraw their financial investment in local facilities after getting their permit.


Mr. Divine. I would claim that most of the investors, if you asked them what are visit here their objectives, they would state, "I want to obtain an environment-friendly card, and I want to keep it.


If I put my money in a resort development-- Senator Grassley. Can I presume then that you are claiming that there does not require to be any modifications made because respect? Mr. Divine. I do not assume so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her investment right away after obtaining a copyright? Mr.

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Senator, no. Our programs require that the investor be spent for a minimum of 5 years and be repaid only if the company is in a position to do so at the end of that time. So we have the advantage of the capital to develop the business, obtain it running, make it effective, guarantee that the jobs will certainly be developed and kept, and afterwards just if the business achieves success will certainly there be a departure approach for the capitalist.