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And I have actually been proud to satisfy them and honored to welcome them. Chairman Leahy. As my last question, in some of the statement this morning there has actually been a recommendation that, of course, simply with all the hundreds of billions, trillions of dollars all set to invest, you ought to just go somewhere else.


Stenger. I would tell you that in this climate the capability to raise funding for the important things we are doing would have-- it is difficult to do so in a manner that would enable us as properly and as swiftly produce the important things we have done. You can obtain cash if you have got half down.


I could have obtained half of that if I had the $12 million in cash to set up. Every person recognizes that, yes, banks have money to lending as long as you have actually obtained half of it in your pocket before you ask for the various other fifty percent. That is not how company functions nowadays.

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Senator Grassley. Senator Grassley. I want to admit that we only have anecdotal details, however I would like to ask you to what level you have to go or do go to make certain that the facilities make sure that the investments do not create jobs for people below illegally.


Mr. Stenger. Legislator, I am a hands-on owner of a service, and I am on-property every day. We have worked with-- as I said, at the Height we had 550 building and construction employees on our project. The marching orders that I provided to my team is that we are to employ neighborhood companies in nearly every instance to do every one of the building and construction.


They are made up of 10, 15, 20, 30 workers. They are profiting directly from the investment. I understand the employees, I understand their family members, and we have been able to use-- via these last 3 years of dreadful financial turmoil, we have actually been able to utilize practically every building and construction worker in our county and the bordering counties.

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


Mr. North, along the same lines of the question I asked him, has your research study revealed instances various other-- and I only offered one example, so I desire to confess that and be responsible concerning it-- of centers working with undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is a quantity of poor applications out there, however just as soon as that procedure obtains before an administrative article source law judge do we see much in the way of information. Now, there was one case that you stated, and let me simply specify on that a little bit.

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Do not take too long since I want to ask an additional pair inquiries. Yet go in advance and swiftly coating. Mr. North. The dairy products ranch had asserted 17 employees, and they entered into it, and the judge discovered that 16 of them were illegals. Now, that is the one instance I have, and it is a fine example.


Okay. I am going to ask separate questions of each of the 3 of you, yet it manages this one issue. As I stated in my opening statement, I am worried about the possible loophole that enables investors to withdraw their financial investment in local facilities after obtaining their permit.


Divine, are you familiar with any type of instances in More Bonuses which a capitalist took out the financial investment and left quickly after obtaining a permit? And if you are, or if you believe it is an issue, do you think that it is a technicality that should be closed? Mr. Divine. I would certainly claim that a lot of the investors, if you asked what are their goals, they would claim, "I intend to obtain an eco-friendly card, and I desire to maintain it.


If I put my money in a hotel development-- Legislator Grassley. Can I presume then that you are saying that there does not require to be any type of adjustments made because respect? Mr. look at this website Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his/her investment instantly after obtaining a permit? Mr.

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Legislator, no. Our programs need that the financier be spent 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 benefit of the resources to develop business, obtain it running, make it effective, assure that the tasks will be created and preserved, and after that just if business is effective will certainly there be an exit method for the financier.