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And I have actually been proud to fulfill them and proud to welcome them. Chairman Leahy. As my last inquiry, in some of the testament this early morning there has been a pointer that, of course, just with all the hundreds of billions, trillions of dollars all set to spend, you should just go somewhere else.


Stenger. I would certainly inform you that in this environment the capability to increase capital for things we are doing would certainly have-- it is impossible to do so in a manner that would certainly enable us as properly and as swiftly produce the things we have actually done. You can borrow money if you have actually got 50 percent down.


I can have borrowed half of that if I had the $12 million in cash money to put up. Everyone recognizes that, yes, financial institutions have cash to financing as long as you have actually got half of it in your pocket prior to you ask for the various other half. That is not just how service works nowadays.

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You are speaking from a real-world experience, not from a think container experience. I will certainly leave that merely as an unjustified comment from the Chairman. Legislator Grassley. Senator Grassley. Thanks. I want to be accountable in this issue of undocumented employees. I want to confess that we only have anecdotal details, yet I would love to ask you to what degree you have to go or do most likely to ensure that the centers make certain that the investments do not develop jobs for people below unlawfully.


Mr. Stenger. We have actually worked with-- as I claimed, at the Optimal we had 550 construction workers on our project.


They are made up of 10, 15, 20, 30 employees. They are from our local counties. They are Vermonters. They are benefiting straight from the financial investment. So we are a hands-on center. I understand the workers, I know their family members, and we have actually had the ability to utilize-- with these last 3 years of horrible economic turmoil, we have actually had the ability to utilize nearly every building and construction employee in our area and the bordering counties.

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citizens. They live in the location. Their family members are there. They are invested in the areas, and they are all united state employees. Senator Grassley. You do not have to use e-verify, but I would love to know whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thank you. Mr. North, along the same lines of the question I asked him, has your research study revealed instances other-- and I only gave one instance, my website so I wish to admit that and be accountable concerning it-- of facilities working with undocumented individuals? Mr. North. That type of data is very tough to acquire from USCIS, and I have to state that what we do learn about many of the inner aspects of that firm regarding this program is worried associates with situations in which the personnel has stated no to an application of some kind and afterwards the local facility or the individual business owner has actually gone to the Administrative Appeals Workplace-- which is part of the firm-- and there we obtain papers, we obtain a hearing officer informing us what is taking place because particular instance.




This is a negative application." There is an amount of poor applications out there, yet just when that procedure obtains before an administrative regulation court do we see much in the method of detail. Now, there was one instance that you pointed out, and allow me simply specify on that particular a little.

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Mr - EB5 Regional Center Program. North. The dairy products farm had declared 17 workers, and they got right into it, and the court found that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the three of you, yet it takes care of this problem. As I claimed in my opening declaration, I am worried concerning the possible technicality that enables investors to withdraw their investment in regional centers after getting their permit.


Divine, are you conscious of any type of instances in which an investor withdrew the investment and strolled away promptly after receiving a copyright? And if you are, or if you believe it is an issue, do you think that it is a technicality that should be shut? Mr. Divine. I would certainly state that a lot of the investors, if you inquired what are their objectives, they would certainly state, "I wish to obtain a copyright, and I wish to maintain it.


If I put my money in a hotel growth-- Legislator Grassley. Can I assume then that you are stating that there does not need to be any kind of changes made because regard? Mr. Divine. I do not think so. Legislator Grassley. Okay. Allow me why not try this out ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her investment instantly after receiving a green from this source 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 business is in a position to do so at the end of that time. So we have the benefit of the funding to develop business, get it running, make it successful, ensure that the work will be developed and maintained, and afterwards only if business achieves success will there be an exit approach for the financier.