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And I have actually been honored to meet them and pleased to invite them. Chairman Leahy. Likewise, as my last concern, in several of the testimony this morning there has actually been a suggestion that, obviously, just with all the numerous billions, trillions of bucks all set to invest, you ought to just go someplace else.

Stenger. I would certainly tell you that in this climate the ability to raise capital for the points we are doing would have-- it is impossible to do so in a manner that would permit us as properly and as promptly produce the things we have actually done. You can obtain money if you have actually obtained 50 percent down.


I can have obtained half of that if I had the $12 million in cash money to install. Everybody understands that, yes, banks have cash to loan as long as you have actually got half of it in your pocket prior to you request for the various other half. That is not how business functions nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will certainly leave that simply as a gratuitous comment from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I want to be liable in this issue of undocumented workers. I wish to confess that we only have anecdotal details, but I would love to ask you to what extent you have to go or do go to ensure that the facilities make certain that the investments do not produce work for individuals here illegally.


Mr. Stenger. Senator, I am a hands-on proprietor of an organization, and I am on-property every day. We have worked with-- as I said, at the Top we had 550 building employees on our project. The marching orders that I provided to my group is that we are to work with local firms in practically every circumstances to do every one of the building.


They are made up of 10, 15, 20, 30 employees. They are benefiting directly from the investment. I know the employees, I understand their families, and we have actually been able to use-- with these last 3 years of awful economic chaos, we have been able to employ virtually every building and next page construction worker in our county and the bordering regions.

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


Thanks. Mr. North, along the same lines of the concern I asked him, has your study shown examples various other-- and I just gave one example, so I intend to admit that and be accountable about it-- of centers working with undocumented individuals? Mr. North. That sort of data is very hard to acquire from USCIS, and I should say that what we do understand about a number of the inner things regarding that firm regarding this program is concerned associates with situations in which the team has actually stated no to an application of some kind and then the local facility or the individual entrepreneur has actually gone to the Administrative Appeals Office-- which becomes part of the company-- and there we obtain documents, we get a hearing officer telling us what is going on in that certain instance.




This is a negative application." So there is a quantity of negative applications out there, but only when that procedure obtains before an administrative legislation court do we see a lot in the way of information. Currently, there was one situation that you mentioned, and allow me simply elaborate on that particular a bit.

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


Okay. I am mosting likely to ask separate concerns of each of the 3 of you, yet check out this site it deals with this one concern. As I stated in my opening statement, I am concerned regarding the prospective loophole that allows capitalists to withdraw their financial investment in regional centers after obtaining their permit.


Divine, are you knowledgeable about any type of instances in which an investor took out the financial investment and left immediately after receiving find out here a permit? And if you are, or if you think it is a problem, do you think that it is a loophole that should be closed? Mr. Divine. I would say that the majority of the capitalists, if you asked what are their goals, they would certainly state, "I wish to get an environment-friendly card, and I wish to keep it.

Mr. Divine. Allow me ask Mr. Stenger, is it common for a financier in your experience to withdraw his or her investment right away after receiving an eco-friendly card? Mr.


Senator, legislator.