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And I have been proud to meet them and happy to invite them. Chairman Leahy. Also, as my last inquiry, in some of the statement this early morning there has been a recommendation that, obviously, just with all the numerous billions, trillions of bucks all set to invest, you ought to just go somewhere else.


Stenger. I would inform you that in this environment the capability to raise funding for things we are doing would have-- it is difficult to do so in a fashion that would certainly allow us as effectively and as promptly develop things we have done. You can obtain money if you have obtained 50 percent down.


I could have obtained half of that if I had the $12 million in cash to set up. Everybody knows that, yes, financial institutions have money to financing as long as you have obtained half of it in your pocket prior to you request for the other fifty percent. That is not exactly how business functions these days.

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You are talking from a real-world experience, not from a think container experience. I will leave that just as a gratuitous remark from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I intend to be responsible in this problem of undocumented employees. I desire to admit that we just have anecdotal info, yet I wish to ask you to what level you need to go or do most likely to make certain that the facilities see to it that the investments do not produce work for people right here unlawfully.


Mr. Stenger. Senator, I am a hands-on owner of an organization, and I am on-property every day. We have actually hired-- as I claimed, at the Optimal we had 550 building workers on our job. The marching orders that I provided to my team is that we are to hire local companies in practically every instance to do all of the building.


They are made up of 10, 15, 20, 30 workers. They are benefiting straight from the financial investment. I recognize the employees, I know their families, and we have actually been able to use-- via these last 3 years of horrible economic chaos, we have been able to employ virtually every building worker in our area and the surrounding counties.

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They are invested in the neighborhoods, and they are all U.S. employees. Senator Grassley. Mr. Stenger.


Mr. North, along the same lines of the inquiry I asked him, has your study revealed examples other-- and I just offered one instance, so I desire to admit that and be responsible concerning it-- of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is an amount of poor applications available, but just once that procedure obtains prior to an administrative law court do we see much in the method of information. Now, there was one instance that you stated, and let me simply clarify on that particular a bit.

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Do not take also long because I want to ask another couple inquiries. But go ahead and rapidly surface. Mr. North. The milk ranch had actually declared 17 workers, and they obtained right into it, and the court discovered that 16 of them were illegals. Now, that is the one example I have, and it is a fine example.


Okay. I am mosting likely to ask separate questions of each of the three of you, yet it manages this one problem. As I claimed in my opening statement, I click here am worried about the prospective loophole that permits financiers to withdraw their investment in local centers after receiving their environment-friendly card.


Divine, are you familiar with any kind of circumstances in which a capitalist took out the investment and strolled away immediately after obtaining an environment-friendly card? 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 certainly state that a lot of the capitalists, if you asked what are their objectives, they would say, "I intend to get a permit, and I desire to maintain it.


If I put my cash in a hotel advancement-- Legislator Grassley. Can I think then that you are saying that there does not need to be any kind of changes made in that regard? 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 or her financial investment quickly after getting a permit? Mr.

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Senator, no. Our programs require that the capitalist be spent for a minimum of 5 years and be repaid just if the organization remains in a setting to do so at the end of that time. So we have the benefit of the resources to produce business, get it running, make it effective, ensure that the tasks will be developed and kept, and then only if business achieves success will there be a leave method for the financier.