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And I have been happy to satisfy them and honored to invite them. Chairman Leahy. As my last question, in some of the statement this morning there has been a suggestion that, of program, simply with all the hundreds of billions, trillions of dollars prepared to spend, you ought to just go someplace else.


Stenger. I would certainly inform you that in this climate the capacity to raise capital for the points we are doing would certainly have-- it is impossible to do so in a fashion that would allow us as properly and as swiftly create the things we have done. You can borrow money if you have got half down.


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

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You are talking from a real-world experience, not from a think storage tank experience. I will leave that simply as an unjustified comment from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I intend to be responsible in this issue of undocumented workers. I wish to confess that we only have unscientific information, but I wish to ask you to what extent you need to go or do go to make sure that the facilities see to it that the investments do not create tasks for individuals here illegally.


Mr. Stenger. Senator, I am a hands-on proprietor of a business, and I am on-property every solitary day. We have actually employed-- as I claimed, at the Optimal we had 550 building workers on our task. The marching orders that I provided to my team is that we are to work with local business in almost every circumstances to do all of the construction.


They are made up of 10, 15, 20, 30 workers. They are profiting straight from the financial investment. I know the employees, I know their households, and we have actually been able to employ-- through these last 3 years of awful economic chaos, we have been able to employ nearly every building worker in our county and the surrounding regions.

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


Thanks. Mr. North, along the same lines of the question I asked him, has your research study revealed instances other-- and I only provided one example, so I intend to confess that and be accountable about it-- of facilities employing undocumented individuals? Mr. North. That kind of information is really difficult to obtain from USCIS, and I need to claim that what we do understand about a lot of the inner read review aspects of that company as for this program is worried connects to cases in which the staff has said no to an application of some kind and then the local facility or the individual entrepreneur has gone to the Administrative Appeals Workplace-- which becomes part of the agency-- and there we obtain files, we obtain a hearing police officer informing us what is going on because specific situation.




This is a negative application." So there is an amount of bad applications around, but just once that process gets prior to an administrative legislation judge do we see much in the means of information. Currently, there was one instance that you pointed out, and allow me just clarify on that particular a little bit.

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Mr - EB5 Regional Center Program. North. The dairy additional info ranch had actually declared 17 employees, and they got into it, and the court discovered that 16 of them were illegals.


Okay. I am mosting likely to ask different concerns of each of the three of you, however it takes care of this concern. As I stated in my opening statement, I am worried concerning the potential technicality that allows financiers to withdraw their investment in local centers after getting their permit.


Divine, are you familiar with any type of instances in which a financier withdrew the financial investment and walked away quickly after receiving a copyright? And if you are, or if you assume it is an issue, do you assume that it is a technicality that should be shut? Mr. Divine. I would claim that the majority of the financiers, if you asked them what are view their goals, they would certainly say, "I intend to get a permit, and I desire to maintain it.


If I put my cash in a resort development-- Legislator Grassley. Can I assume then that you are saying that there does not need to be any adjustments made in that regard? Mr. Divine. I do not believe so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his or her investment instantly after getting a permit? Mr.

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Senator, no. Our programs need that the investor be spent for a minimum of 5 years and be repaid just if the service is in a placement to do so at the end of that time. So we have the benefit of the capital to produce the service, get it running, make it effective, assure that the work will certainly be created and preserved, and then just if the organization succeeds will certainly there be a departure strategy for the investor.