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And I have been happy to satisfy them and happy to invite them. Chairman Leahy. As my last inquiry, in some of the statement this early morning there has been an idea that, of program, simply with all the hundreds of billions, trillions of bucks prepared to invest, you need to simply go somewhere else.


EB5 Regional Center ProgramEB5 Regional Center Program
Stenger. I would certainly inform you that in this environment the capability to increase resources for the important things we are doing would certainly have-- it is difficult to do so in a manner that would certainly allow us as successfully and as promptly develop the points we have actually done. You can borrow money if you have got half down.


I could have obtained fifty percent of that if I had the $12 million in cash to put up. Everybody knows that, yes, banks have cash to car loan as long as you have got fifty percent of it in your pocket before you ask for the various other half. That is not how business functions these days.


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Legislator Grassley. Senator Grassley. I want to admit that we just have anecdotal info, however I would such as to ask you to what degree you have to go or do go to make sure that the facilities make certain that the investments do not develop jobs for people right here illegally.


Mr. Stenger. We have actually worked with-- as I stated, at the Peak we had 550 building workers on our project.


They are made up of 10, 15, 20, 30 workers. They are benefiting directly from the financial investment. I recognize the employees, I know their households, and we have been able to utilize-- with these last 3 years of horrible economic turmoil, we have actually been able to use virtually every construction employee in our region and the surrounding regions.


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locals. They stay in the area. Their families exist. They are invested navigate to this site in the communities, and they are all U.S. workers. Legislator Grassley. You do not need to utilize e-verify, however I would love to know whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thanks. Mr. North, along the very same lines of the question I asked him, has your study shown examples various other-- and I just gave one instance, so I wish to admit that and be accountable about it-- of centers working with undocumented people? Mr. North. That kind of data is really hard to acquire from USCIS, and I need to claim that what we do learn about a number of the inner points regarding that firm regarding this program is worried associates with situations in which the personnel has actually claimed no to an application of some kind and after that the local facility or the individual entrepreneur has actually gone to the Administrative Appeals Office-- which becomes part of the company-- and there we get records, we get a hearing officer telling us what is going on in that particular case.




This is a negative application." So there is an amount of poor applications available, but only once that procedure obtains before a management legislation judge do we see much in the means of information. Now, there was one instance that you stated, and let me just specify on that a little bit.


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EB5 Regional Center ProgramEB5 Regional Center Program


Do not take also long because I intend to ask an additional pair website here questions. But go ahead and quickly coating. Mr. North. The milk farm had declared 17 workers, and they got into it, and the court located that 16 of them were illegals. Currently, that is the one instance I have, and it is a great example.


Okay. I am going to ask different questions of each of the three of you, but it handles this set concern. As I claimed in my opening statement, I am worried about the potential loophole that permits financiers to withdraw their investment in regional centers after Our site obtaining their environment-friendly card.


Mr. Divine. I would state that most of the capitalists, if you asked them what are their goals, they would claim, "I want to obtain an eco-friendly card, and I want to maintain it.


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Mr. Divine. Let me ask Mr. Stenger, is it common for a capitalist in your experience to withdraw his or her financial investment right away after getting a copyright? Mr.


Senator, no.

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