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And I have been pleased to satisfy them and proud to welcome them. Chairman Leahy. As my last concern, in some of the statement this early morning there has been a suggestion that, of course, just with all the hundreds of billions, trillions of dollars prepared to spend, you ought to simply go someplace else.


Stenger. I would certainly inform you that in this climate the capability to raise resources for the things we are doing would certainly have-- it is impossible to do so in a way that would certainly allow us as effectively and as promptly produce things we have actually done. You can obtain cash if you have got 50 percent down.


I could have obtained fifty percent of that if I had the $12 million in money to set up. Everyone recognizes that, yes, banks have cash to lending as long as you have obtained fifty percent of it in your pocket prior to you ask for the other half. That is not how business functions these days.

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You are talking 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 intend to be accountable in this issue of undocumented employees. I wish to confess that we just have anecdotal info, but I want to ask you to what level you have to go or do go to make certain that the facilities ensure that the investments do not develop jobs for people here unlawfully.


Mr. Stenger. We have hired-- as I stated, at the Peak we had 550 building employees on our project.


They are composed of 10, 15, 20, 30 employees. They are from our regional areas. They are Vermonters. They are benefiting directly from the investment. So we are a hands-on center. I understand the workers, I know their families, and we have actually had the ability to use-- through these last 3 years of terrible financial chaos, we have been able to utilize virtually every building employee in our region and the bordering regions.

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homeowners. They reside in the location. Their family members are there. They are bought the areas, and they are all U.S. employees. Legislator Grassley. You do not need to make use of e-verify, yet I wish to recognize whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.


Thanks. Mr. North, along the exact same lines of the inquiry I asked him, has your study shown examples various other-- and I only provided one instance, so I wish to admit that and be accountable concerning it-- of centers working with undocumented individuals? Mr. North. That type of information is really difficult to obtain from USCIS, and I must say that what we do find out about most of the internal features of that firm as for this program is concerned associates with instances in which the personnel has said no to an application of some kind and afterwards the local center or the individual business owner has mosted likely to the Administrative Appeals Workplace-- which is part of the firm-- and there we get records, we get a hearing police officer telling us what is going on in that certain situation.




This is a bad application." So there is a quantity of negative applications around, yet just when that process obtains prior to a management more info legislation court do we see a lot in the way of information. Currently, there was one instance that you mentioned, and let me just specify on that a little.

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Mr - EB5 Regional Center Program. North. The dairy products farm had actually asserted 17 workers, and they obtained into it, and the judge discovered that 16 of them were illegals.


Okay. I am going to ask different questions of each of the three of you, yet it takes care of this problem. As I said in my opening declaration, I am concerned concerning the potential technicality that permits investors to withdraw their investment in regional centers after receiving their eco-friendly card.


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


If I place my cash in a hotel growth-- Senator Grassley. Can I presume then that you are saying that there does not need to be any kind of changes made in that respect? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it common for a financier in your experience to withdraw his/her financial investment quickly after obtaining a permit? Mr.

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Legislator, no. Our programs call for that the financier be invested for a minimum of 5 years and be repaid just if the business is in a setting to do so at the end of that time. So we have the advantage of the funding to develop business, obtain it running, make it successful, assure that the work will certainly be developed and maintained, and afterwards only if the service succeeds will there be an exit technique for the investor.