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And I have actually been honored to fulfill them and pleased to welcome them. Chairman Leahy. Also, as my last concern, in several of the statement this morning there has been a recommendation that, naturally, simply with all the thousands of billions, trillions of bucks prepared to invest, you should simply go someplace else.


Stenger. I would inform you that in this environment the capacity to raise funding for things we are doing would have-- it is impossible to do so in a fashion that would enable us as successfully and as promptly produce the points we have done. You can obtain cash if you have obtained half down.


I might have borrowed fifty percent of that if I had the $12 million in cash to set up. Every person recognizes that, yes, financial institutions have cash to funding as long as you have obtained fifty percent of it in your pocket before you request the various other fifty percent. That is not exactly how service works these days.

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Legislator Grassley. Legislator Grassley. I desire to confess that we only have unscientific details, but I would such as to ask you to what degree you have to go or do go to make certain that the facilities make certain that the investments do not develop jobs for individuals here illegally.


Mr. Stenger. We have worked with-- as I claimed, at the Height we had 550 building and construction workers on our task.


They are made up of 10, 15, 20, 30 employees. They are benefiting directly from the financial investment. I understand the employees, I recognize their families, and we have actually been able to utilize-- through these last 3 years of awful financial chaos, we have been able to employ almost every construction employee in our region and the surrounding areas.

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They are spent in the communities, and they are all United state employees. Senator Grassley. Mr. site Stenger.


Mr. North, along the same lines of the concern I asked him, has your research shown instances other-- and I only offered one instance, so I want to confess that and be accountable concerning it-- of centers hiring undocumented people? Mr. EB5 Regional Center Program. North.




This is a poor application." There is an amount of poor applications out there, however only when that process obtains prior to an administrative law court do we see a lot in the method of detail. Currently, there was one situation that you stated, and allow me just elaborate on that particular a bit.

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Do not take too long since I intend to ask an additional couple questions. However go on check that and promptly coating. Mr. North. The dairy products ranch had actually asserted 17 employees, and they got involved in it, and the judge discovered that 16 of them were illegals. learn the facts here now Currently, that is the one instance I have, and it is an excellent example.


Okay. I am going to ask separate questions of each of the 3 of you, yet it manages this set concern. As I stated in my opening statement, I am concerned about the potential technicality that permits capitalists to withdraw their financial investment in local centers after receiving their permit.


Mr. Divine. I would certainly say that many of the capitalists, if you asked them what are their goals, they would certainly state, "I want to obtain a copyright, and I desire to keep it.


If I put my money in a resort growth-- Senator Grassley. Can I assume then that you are stating that there does not require to be any modifications made because respect? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for an investor in your experience to withdraw his or her financial investment instantly after getting a permit? Mr.

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Legislator, no. Our programs need that the capitalist be spent for a minimum of 5 years and be repaid just if the organization remains in a placement to do so at the end of that time. We have the benefit of the resources to develop the business, obtain it running, make it effective, ensure that the tasks will be developed and kept, and then only if the organization is effective will there be a leave method for the investor.