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And I have been honored to meet them and proud to welcome them. Chairman Leahy. As my last inquiry, in some of the statement this morning there has been a tip that, of course, just with all the hundreds of billions, trillions of dollars ready to invest, you should just go somewhere else.


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


I could have borrowed half of that if I had the $12 million in cash money to place up. Everyone recognizes that, yes, financial institutions 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 organization functions these days.

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Legislator Grassley. Legislator Grassley. I want to confess that we only have unscientific details, however I would certainly such as to ask you to what extent you have to go or do go to make certain that the facilities make sure that the financial investments do not create work for individuals here unlawfully.


Mr. Stenger. Senator, I am a hands-on proprietor of a business, and I am on-property each and every single day. We have worked with-- as I said, at the Height we had 550 construction employees on our job. The marching orders that I offered to my group is that we are to employ neighborhood business in nearly every instance to do every one of the building.


They are made up of 10, 15, 20, 30 staff members. They are benefiting directly from the financial investment. I recognize the workers, I know their families, and we have actually been able to use-- through these last 3 years of horrible financial turmoil, we have been able to employ almost every construction employee in our area and the surrounding counties.

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homeowners. They stay in the area. Their families are there. They are invested in the neighborhoods, and they are all U.S. employees. Senator Grassley. You do not need to use e-verify, yet I want to understand whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the very same lines of the inquiry more info I asked him, has your research shown examples various other-- and I just provided one example, so I desire to confess that and be accountable about it-- of facilities employing undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is a quantity of negative applications available, but only when that process gets before a management regulation court do we see much in the method of information. Now, there was one case that you stated, and allow me just elaborate on that particular a little.

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Do not take also long since I desire to ask another couple inquiries. Go in advance and rapidly coating. Mr. North. The dairy ranch had actually claimed 17 workers, and they got right into it, and the judge found that 16 of them were illegals. Now, that is the one instance I have, and it is an excellent example.


Okay. I am mosting likely to ask different inquiries of each of the 3 of you, but it manages this issue. As I said in my opening statement, I am worried concerning the prospective technicality that allows financiers to withdraw their financial investment in regional centers after obtaining their permit.


Divine, are you mindful of any kind of instances in which an investor withdrew the investment and left promptly after receiving a permit? And if you are, or if you think it is an issue, do you believe that it is a technicality that should be shut? Mr. Divine. I would certainly state that the majority of the financiers, if you asked them what are their goals, they would say, "I intend to get a permit, and I want to keep it.


If I place my money in a hotel growth-- Legislator Grassley. Can I presume then that you are claiming that there does not require to be any kind of changes made because respect? Mr. Divine. I do not think so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his/her investment right away after receiving a permit? Mr.

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Legislator, no. Our programs need that the capitalist be invested for a minimum of 5 years and be paid back just if the business remains in a position to do so at the end of that time. So we have the advantage of the funding to produce business, get it running, make it effective, guarantee that the tasks will be developed and kept, and then just if business succeeds will there be a departure method for the capitalist.