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And I have actually been happy to satisfy them and honored to invite them. Chairman Leahy. Also, as my last inquiry, in several of the testament today there has actually been a pointer that, certainly, simply with all the hundreds of billions, trillions of bucks ready to invest, you must simply go somewhere else.


Stenger. I would certainly tell you that in this climate the capacity to elevate resources for things we are doing would have-- it is impossible to do so in a fashion that would certainly enable us as successfully and as rapidly create the important things we have actually done. You can borrow money if you have actually got 50 percent down.


I could have obtained half of that if I had the $12 million in cash money to set up. Everyone recognizes that, yes, financial institutions have cash to finance as long as you have obtained half of it in your pocket before you ask for the other half. That is not exactly how service works nowadays.

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You are speaking from a real-world experience, not from a brain trust experience. I will certainly leave that simply as an unjustified remark from the Chairman. Legislator Grassley. Legislator Grassley. Thanks. I want to be liable in this issue of undocumented workers. I wish to confess that we just have unscientific details, but I wish to ask you to what level you need to go or do go to ensure that the facilities see to it that the investments do not produce work for individuals right here unlawfully.


Mr. Stenger. Legislator, I am a hands-on proprietor of a business, and I am on-property every day. We have worked with-- as I claimed, at the Peak we had 550 construction workers on our task. The marching orders that I offered to my team is that we are to hire local companies in almost every circumstances to do every one of the construction.


They are made up of 10, 15, 20, 30 employees. They are from our local counties. They are Vermonters. They are profiting straight from the financial investment. So we are a hands-on center. I know the workers, I know their families, and we have actually been able to utilize-- through these last 3 years of terrible economic chaos, we have been able to utilize practically every building worker in our county and the bordering areas.

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They are spent in the areas, and they are all U.S. workers. Legislator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the question I asked him, has your research shown examples various other-- and I only provided one example, so I want to admit that and be accountable about it-- of centers hiring undocumented website people? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is a quantity of bad applications around, but only as soon as that procedure obtains prior to a management legislation judge do we see a lot in the method of information. Currently, there was one instance that you pointed out, and let me simply clarify on that a little.

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Do not take too long because I want to ask another couple questions. Go in advance and quickly surface. Mr. North. The dairy ranch had claimed 17 workers, and they got into it, and the judge discovered that 16 of them were illegals. Now, that is the one instance I have, and it is a fine example.


Okay. I am going to ask separate questions of each of the three of you, but it handles this one concern. As I claimed in my opening declaration, I am worried concerning the possible loophole that allows financiers to withdraw their financial investment in regional centers after obtaining their environment-friendly card.


Mr. Divine. I would say that many of the capitalists, if you asked them what are their goals, they would state, "I desire to get a copyright, and I desire to keep it.


If I put my cash in a resort development-- Legislator Grassley. Can I think then that you are saying that there does not need to be any type of adjustments made in that regard? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for an investor in your experience to withdraw his or her investment promptly after receiving an eco-friendly card? Mr.

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Senator, no. Our programs call for that the financier be invested for a minimum of 5 years and be paid back just if the organization remains in a placement to do so at the end of that time. We have the benefit of the capital to develop the service, get it running, make it effective, guarantee that the tasks will certainly be produced and maintained, and after that just if the service is successful will certainly there be a departure technique for the investor.