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And I have actually been proud to meet them and honored to welcome them. Chairman Leahy. As my last question, in some of the testimony this early morning there has been a recommendation that, of course, simply with all the hundreds of billions, trillions of dollars prepared to invest, you ought to simply go someplace else.


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


I could have obtained fifty percent of that if I had the $12 million in cash to install. Everyone recognizes that, yes, financial institutions have money to finance as long as you have obtained half of it in your pocket prior to you ask for the various other half. That is not just 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 leave that just as an unjustified comment from the Chairman. Legislator Grassley. Legislator Grassley. Thanks. I want to be liable in this issue of undocumented workers. I intend to confess that we only have unscientific details, but I would such as to ask you to what extent you have to go or do go to make certain that the centers make certain that the investments do not create tasks for people here unlawfully.


Mr. Stenger. We have hired-- as I said, at the Peak we had 550 construction workers on our project.


They are made up of 10, 15, 20, 30 workers. They are benefiting directly from the financial investment. I recognize the workers, I recognize their family members, and we have actually been able to utilize-- with these last 3 years of terrible economic turmoil, we have actually been able to employ nearly every building worker in our area and the surrounding counties.

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


Mr. North, along the exact same lines of the concern I asked him, has your research study revealed instances various other-- and I just provided one example, so I want to confess 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 available, yet just when that process obtains prior to an administrative legislation judge do we see a lot in the method of information. Now, there was one instance that you mentioned, and allow me just specify on that particular a little bit.

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Do not take also long because I wish to ask an additional pair inquiries. Go in advance and promptly coating. Mr. North. The milk ranch had actually declared 17 employees, and they got involved in it, and the court found that 16 of them were illegals. Currently, that is the one example I have, and it is a fine example.


Okay. I am going to ask separate questions of each of the 3 of you, yet it deals with this set issue. As I said in my opening declaration, I am worried about the possible loophole that allows investors to withdraw their investment in local centers after receiving their copyright.


Divine, are you familiar with any kind of circumstances in which an investor withdrew the financial investment and walked away immediately after obtaining an environment-friendly card? And if you are, or if you believe it is a problem, do you assume that it is a technicality that should be closed? Mr. Divine. I would say that the majority of the financiers, if you asked them what are their goals, they would certainly state, "I wish to website obtain an environment-friendly card, and I want to maintain it.


If I put my money in a hotel development-- Senator Grassley. Can I think then that you are claiming that there does not need to be any kind of changes made in that regard? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his/her investment promptly after getting a permit? Mr.

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Legislator, no. Our programs call for that the financier be invested for a minimum of 5 years and be paid back just if business remains in a placement to do so at the end of that time. So we have the advantage of the funding to develop the service, get it running, make it successful, assure that the work will be created and maintained, and after that just if the business achieves success will certainly there be a leave method for the financier.