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And I have been proud to fulfill them and pleased to welcome them. Chairman Leahy. Also, as my last question, in some of the testament this early morning there has been a recommendation that, of course, just with all the thousands of billions, trillions of dollars ready to invest, you must simply go elsewhere.


Stenger. I would inform you that in this climate the capacity to raise capital for things we are doing would certainly have-- it is impossible to do so in a manner that would certainly enable us as successfully and as swiftly produce things we have actually done. You can obtain cash if you have got 50 percent down.


I might have borrowed half of that if I had the $12 million in cash money to set up. Everyone recognizes that, yes, financial institutions have money to finance as long as you have actually got fifty percent of it in your pocket before you ask for the various other half. That is not how organization functions nowadays.

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You are speaking from a real-world experience, not from a think container experience. I will leave that just as an unjustified comment from the Chairman. Senator Grassley. Legislator Grassley. Thank you. I intend to be responsible in this problem of undocumented workers. I desire to admit that we just have unscientific information, yet I wish to ask you to what degree you have to go or do most likely to see to it that the centers make sure that the financial investments do not create jobs for individuals below unlawfully.


Mr. Stenger. We have hired-- as I stated, at the Optimal we had 550 construction employees on our job.


They are made up of 10, 15, 20, 30 workers. They are from our local counties. They are Vermonters. They are benefiting directly from the financial investment. We are a hands-on center. I understand the workers, I understand their households, and we have been able to utilize-- with these last 3 years of terrible economic chaos, we have had the ability to use almost every building worker in our county and the surrounding counties.

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residents. They reside 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 make use of e-verify, but I wish to understand whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the same lines of the concern I asked him, has your research shown instances other-- and I only offered one example, so I want to admit that and be accountable regarding it-- of centers employing undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." There is a quantity of bad applications out there, but just as soon as that procedure gets prior to a management regulation judge do we see much in the means of information. Now, there was one situation that you discussed, and let me just specify on that particular a little bit.

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Do not take also long due to the fact that I wish to ask another pair concerns. Go ahead and quickly surface. Mr. North. The dairy products ranch had actually declared 17 employees, and they got involved in it, and the court discovered that 16 of them were illegals. Currently, that is the one example I have, and it is an example.


Okay. I am mosting likely to ask different inquiries of each of the three of you, yet it handles this one problem. As I stated in my opening statement, I am concerned about the prospective loophole that enables financiers to withdraw their financial investment in local facilities after receiving their permit.


Mr. Divine. I would certainly state that most of the capitalists, if you asked them what are their objectives, they would certainly say, "I want to get an eco-friendly card, and I want to keep it.


If I put my cash in a hotel development-- Senator Grassley. Can I assume then website that you are saying that there does not require to be any type of modifications made in that respect? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it common for a financier in your experience to withdraw his/her investment right away after receiving an environment-friendly card? Mr.

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Legislator, no. Our programs need that the investor be invested for a minimum of 5 years and be paid back only if business is in a placement to do so at the end of that time. So we have the advantage of the funding to produce the company, get it running, make it effective, ensure that the tasks will be created and kept, and afterwards only if the company is successful will certainly there be a leave strategy for the investor.