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And I have actually been happy to fulfill them and pleased to welcome them. Chairman Leahy. As my last question, in some of the statement this early morning there has actually been a suggestion that, of program, just with all the hundreds of billions, trillions of bucks all set to invest, you should simply go somewhere else.

Stenger. I would tell you that in this environment the capacity to raise capital for the points we are doing would certainly have-- it is difficult to do so in a fashion that would permit us as properly and as swiftly develop the things we have actually done. You can borrow money if you have got 50 percent down.


I can have borrowed half of that if I had the $12 million in money to place up. Everyone recognizes that, yes, financial institutions have money to finance as long as you have actually obtained fifty percent of it in your pocket prior to you request for the various other half. That is not how service functions nowadays.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that merely as a gratuitous comment from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I want to be responsible in this problem of undocumented employees. I wish to confess that we only have unscientific info, yet I would love to ask you to what extent you have to go or do most likely to see to it that the centers make certain that the financial investments do not create jobs for individuals here unlawfully.


Mr. Stenger. Senator, I am a hands-on proprietor of a business, and I am on-property every day. We have actually worked with-- as I said, at the Height we had 550 building workers on our job. The marching orders that I provided to my team is that we are to hire neighborhood business in practically every instance to do all of the building and construction.


They are made up of 10, 15, 20, 30 staff members. They are benefiting directly from the investment. I understand the employees, I recognize their households, and we have actually been more info able to utilize-- via these last 3 years of dreadful financial turmoil, we have actually been able to utilize practically every construction employee in our region and the surrounding counties.

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


Mr. North, along the very same lines of the inquiry I asked him, has your research study revealed instances various other-- and I only gave one example, so I desire to confess that and be responsible concerning it-- of facilities employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." There is a quantity of bad applications out there, but only as soon as that process obtains before an administrative regulation judge do we see much in the means of detail. Now, there was one situation that you discussed, and let me just elaborate on that particular a little bit.

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Mr - EB5 Regional Center Program. North. The milk ranch had actually claimed 17 employees, and they got right into it, and the judge located that 16 of them were illegals.


Okay. I am going to ask separate concerns of each of the 3 of you, but it takes care of this issue. As I said in my opening statement, I am worried about the potential loophole that permits investors to withdraw their investment in local facilities after receiving their permit.


Mr. Divine. I would say that many of the investors, if you asked them what are their objectives, they would claim, "I want to get a copyright, and I want to keep it.

Mr. Divine. Allow me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her financial investment promptly after obtaining a copyright? Mr.


Senator, no.