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


Stenger. I would inform you that in this environment the ability to raise capital for things we are doing would certainly have-- it is difficult to do so in a manner that would allow us as properly and as quickly develop the important things we have done. You can obtain cash if you have got 50 percent down.


I can have borrowed half of that if I had the $12 million in cash money to put up. Everyone knows that, yes, banks have money to funding as long as you have obtained half of it in your pocket prior to you request the various other fifty percent. That is not how organization functions these days.

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You are talking from a real-world experience, not from a think storage tank experience. I will certainly leave that simply as a gratuitous remark from the Chairman. Senator Grassley. Senator Grassley. Thanks. I desire to be accountable in this concern of undocumented workers. I wish to admit that we only have unscientific details, but I would such as to ask you to what level you have to go or do go to ensure that the facilities make certain that the investments do not produce tasks for individuals below illegally.


Mr. Stenger. We have hired-- as I said, at the Top we had 550 building workers on our job.


They are composed of 10, 15, 20, 30 staff members. They are from our local counties. They are Vermonters. They are profiting straight from the investment. We are a hands-on center. I recognize the employees, I recognize their family members, and we have been able to use-- with these last 3 years of horrible economic turmoil, we have had the ability to utilize practically every building worker in our region and the bordering regions.

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They are spent in the communities, and they are all United state employees. Senator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the question I asked him, has your study revealed examples other-- and I only provided one instance, so I desire to admit that and be liable concerning it-- of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is an amount of negative applications around, yet just when that process gets before a management regulation judge do we see much in the way of information. Now, there was one instance that you stated, and allow me just specify on that a little bit.

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Do not take too long because I wish to ask one more pair inquiries. Go in advance and swiftly coating. Mr. North. The milk ranch had actually declared 17 see it here employees, and they entered into it, and the court discovered that 16 of them were illegals. Currently, that is the one instance I have, and it is an example.


Okay. I am going to ask separate questions of each of the three of you, yet look at this site it takes care of this set concern. As I claimed in my opening declaration, I am concerned about the possible loophole that permits capitalists to withdraw their investment in local centers after getting their permit.


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


If I place my money in a resort growth-- Senator Grassley. Can I presume then that you are claiming that there does not require to be any adjustments made in that regard? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her financial investment instantly after getting an environment-friendly card? Mr.

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Legislator, no. Our programs call for have a peek at this website that the financier be invested for a minimum of 5 years and be paid back just if the organization remains in a position to do so at the end of that time. We have the advantage of the funding to develop the organization, obtain it running, make it effective, guarantee that the jobs will be created and maintained, and then only if the service is effective will there be an exit technique for the capitalist.