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And I have been honored to fulfill them and proud to invite them. Chairman Leahy. Additionally, as my last concern, in a few of the statement this morning there has been a pointer that, obviously, simply with all the thousands of billions, trillions of bucks prepared to invest, you should simply go elsewhere.

Stenger. I would tell you that in this environment the capability to raise capital for things we are doing would have-- it is impossible to do so in a manner that would allow us as properly and as quickly create the things we have done. You can borrow cash if you have got half down.


I can have borrowed fifty percent of that if I had the $12 million in cash to set up. Everybody recognizes that, yes, financial institutions have cash to finance as long as you have obtained half of it in your pocket prior to you ask for the other half. That is not how service functions these days.

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You are speaking from a real-world experience, not from a brain trust experience. I will certainly leave that just as a gratuitous remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I intend to be accountable in this concern of undocumented workers. I wish to confess that we only have unscientific info, but I would love to ask you to what extent you have to go or do most likely to ensure that the facilities ensure that the financial investments do not create work for people right here illegally.


Mr. Stenger. Senator, I am a hands-on owner of a company, and I am on-property every solitary day. We have worked with-- as I said, at the Top we had 550 construction employees on our task. The marching orders that I provided to my team is that we are to employ neighborhood companies in practically every instance to do all of the building and construction.


They are made up of 10, 15, 20, 30 workers. They are profiting straight from the financial investment. I recognize the employees, I know their households, and we have been able to utilize-- through these last 3 years of terrible financial turmoil, we have actually been able to use nearly every construction employee in our area and the surrounding counties.

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


Thank you. Mr. North, along the same lines of the inquiry I asked him, has your research study shown instances other-- and I just provided one example, so I desire to confess that and be accountable regarding it-- of centers working with undocumented individuals? Mr. North. That type of information is very hard to acquire from USCIS, and I need to state that what we do learn about much of the internal features of that agency regarding this program is concerned associates with situations in which the personnel has said no to an application of some kind and afterwards the local center or the private business owner has mosted likely to the Administrative Appeals Workplace-- which becomes part of the agency-- and there we get documents, we obtain a hearing officer telling us what is going on because certain situation.




This is a negative application." So there is an amount of poor applications out there, however just as soon as that procedure gets before a management legislation court do we see much in the way of detail. Now, there was one case that you pointed out, and let me simply elaborate on that particular a little bit.

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


Okay. I am going to ask different questions of each of the three of you, but it deals with this set problem. As here I said in my opening statement, I am worried concerning the prospective technicality that permits investors to withdraw their investment in local centers after receiving their permit.


Divine, are you familiar with any type of circumstances in which a capitalist took out the financial investment and left right away after getting an eco-friendly card? And if you are, or if you believe it is a trouble, do you believe that it is a loophole that should be closed? Mr. Divine. I would certainly state that the majority of the investors, if you inquired what are their goals, they would claim, "I desire to get a permit, and I wish to maintain it.

Mr. Divine. Let me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her investment quickly after obtaining a copyright? Mr.


Senator, legislator.