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And I have been pleased to meet them and happy to welcome them. Chairman Leahy. Additionally, as my last concern, in some of the testimony today there has actually been a tip that, naturally, simply with all the hundreds of billions, trillions of bucks all set to invest, you should just go elsewhere.


Stenger. I would tell you that in this climate the ability to elevate capital for the important things we are doing would have-- it is impossible to do so in a way that would certainly allow us as efficiently and as swiftly develop the important things we have done. You can borrow cash if you have got half down.


I can have obtained half of that if I had the $12 million in money to set up. Every person knows that, yes, financial institutions have money to lending as long as you have obtained fifty percent of it in your pocket prior to you request the other fifty percent. That is not exactly how service works nowadays.

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You are speaking from a real-world experience, not from a think storage tank experience. I will leave that just as an unjustified comment from the Chairman. Legislator Grassley. Legislator Grassley. Thanks. I desire to be liable in this issue of undocumented employees. I want to admit that we just have anecdotal details, yet I would love to ask you to what extent you need to go or do most likely to ensure that the centers see to it that the financial investments do not produce tasks for people right here unlawfully.


Mr. Stenger. Senator, I am a hands-on proprietor of an organization, and I am on-property every day. We have hired-- as I claimed, at the Peak we had 550 building and construction workers on our job. The marching orders that I provided to my team is that we are to hire neighborhood firms in virtually every instance to do every one of the building.


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

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They are invested in the areas, and they are all U.S. workers. Senator Grassley. Mr. 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 admit that and be responsible about it-- of centers hiring undocumented people? Mr. EB5 Regional Center Program. North.




This is a poor application." There is an amount of bad applications out there, however just when that process gets prior to an administrative legislation court do we see much in the method of detail. Now, there was one case that you discussed, and allow me just clarify on that a little bit.

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Mr - EB5 Regional Center Program. North. The dairy products farm had declared 17 employees, and they got into it, and the judge found that 16 of them were illegals.


Okay. I am mosting likely to ask separate concerns of each of the 3 of you, however it deals with this one problem. As I said in my opening statement, I am concerned concerning the possible technicality that enables capitalists to withdraw their investment in local facilities after getting their eco-friendly card.


Mr. Divine. I would claim that many of the capitalists, if you asked them what are their objectives, they would certainly state, "I desire to obtain an eco-friendly card, and I desire to maintain it.


If I put my money in a hotel advancement-- Legislator Grassley. Can I assume then that website you are claiming that there does not require to be any modifications made in that regard? Mr. Divine. I do not believe so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her financial investment promptly 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 repaid just if the company remains in a setting to do so at the end of that time. We have the advantage of the funding to create the business, get it running, make it effective, assure that the work will be produced and maintained, and then only if the company is successful will certainly there be a leave method for the investor.