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And I have actually been proud to fulfill them and honored to invite them. Chairman Leahy. Likewise, as my last inquiry, in a few of the statement today there has been an idea that, certainly, just with all the thousands of billions, trillions of dollars prepared to spend, you must simply go elsewhere.


Stenger. I would certainly inform you that in this climate the capability to raise funding for the things we are doing would have-- it is difficult to do so in a fashion that would certainly enable us as successfully and as swiftly produce things we have actually done. You can borrow money if you have actually obtained 50 percent down.


I could have obtained fifty percent of that if I had the $12 million in cash to put up. Every person recognizes that, yes, banks have money to financing as long as you have actually got fifty percent of it in your pocket prior to you request 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 think container experience. I will leave that just as an unjustified comment from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I wish to be accountable in this concern of undocumented employees. I desire to admit that we only have unscientific info, yet I want to ask you to what degree you need to go or do go to ensure that the facilities make sure that the financial investments do not create tasks for people below illegally.


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


They are made up of 10, 15, 20, 30 workers. They are benefiting directly from the investment. I know the workers, I know their family members, and we have actually been able to use-- via these last 3 years of dreadful financial turmoil, we have been able to employ practically every construction employee in our area and the bordering regions.

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


Mr. North, along the very same lines of the concern I asked him, has your research study revealed instances various other-- and I only provided one instance, so my blog I desire to confess that and be liable concerning it-- of centers employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is an amount of poor applications available, however only when that process gets before a management regulation court do we see a lot in the way of detail. Now, there was one situation that you pointed out, and let me simply specify on that particular a bit.

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Do not take as well long because I wish to ask one more couple concerns. Yet proceed and quickly finish. Mr. North. The milk farm had claimed 17 workers, and they got involved in it, and the judge located that 16 of them were illegals. Now, that is the one example I have, and it is a good instance.


Okay. I am mosting likely to ask different inquiries of each of the 3 of you, yet it deals with this one issue. As I said in my opening statement, I am concerned concerning the potential technicality that enables financiers to withdraw their financial investment in regional centers after getting their environment-friendly card.


Divine, are you familiar with any kind of web instances in which an investor withdrew the investment and left promptly after obtaining a permit? And if you are, or if you assume it is a problem, do you believe that it is a technicality that should be shut? Mr. Divine. I would say that a lot of the financiers, if you asked them what are their objectives, they would state, "I intend to obtain a copyright, and I want to maintain it.


If I put my cash in a resort development-- Legislator Grassley. Can I assume then that you are stating that there does not require to be any kind of modifications made in that respect? Mr. Divine. I do not assume so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his/her investment quickly after receiving a copyright? Mr.

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Senator, no. Our programs need that the capitalist be invested for a minimum of 5 years and be repaid just if business remains in a setting to do so at the end of that time. So we have the advantage of the resources to produce business, get it running, make it successful, assure that the work will be developed and preserved, and then just if business is successful will certainly there be a leave technique for the Get More Info financier.