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And I have actually been happy to satisfy them and honored to invite them. Chairman Leahy. Likewise, as my last concern, in several of the testament this early morning there has actually been a suggestion that, naturally, just with all the hundreds of billions, trillions of dollars ready to invest, you should simply go somewhere else.


Stenger. I would certainly inform you that in this environment the ability to elevate funding for the important things we are doing would have-- it is impossible to do so in a manner that would certainly enable us as successfully and as swiftly develop the points we have actually done. You can borrow money if you have got half down.


I might have obtained half of that if I had the $12 million in cash money to put up. Every person understands that, yes, banks have cash to lending as long as you have obtained fifty percent of it in your pocket before you ask for the other fifty percent. That is not just how business functions nowadays.

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You are talking from a real-world experience, not from a think storage tank experience. I will certainly leave that just as an unjustified remark from the Chairman. Senator Grassley. Legislator Grassley. Thank you. I wish to be liable in this concern of undocumented workers. I intend to admit that we just have unscientific info, however I would like to ask you to what extent you have to go or do go to make certain that the facilities see to it that the financial investments do not produce jobs for people below unlawfully.


Mr. Stenger. We have worked with-- as I stated, at the Top we had 550 building and construction employees on our project.


They are made up of 10, 15, 20, 30 staff members. They are from our neighborhood regions. They are Vermonters. They are profiting straight from the investment. So we are a hands-on center. I understand the workers, I understand their family members, and we have had the ability to utilize-- with these last 3 years of horrible economic turmoil, we have had the ability to use nearly every construction worker in our county and the surrounding regions.

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residents. They reside in the area. Their households exist. They are bought the areas, and they are all U.S. employees. Senator Grassley. You do not have to make use of e-verify, but I would love to know whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Thank you. Mr. North, along the same lines of the inquiry I asked him, has your research shown examples other-- and I only gave one instance, so I want to admit that and be accountable about it-- of facilities working with undocumented people? Mr. North. That kind of data is really difficult to get from USCIS, and I should state that what we do learn about a number of the internal things regarding that firm regarding this program is concerned associates with instances in which the personnel has actually said no to an application of some kind and then the local center or the individual business owner has actually gone to the Administrative Appeals Workplace-- which belongs to the firm-- and there we obtain documents, we get a hearing policeman informing us what is taking place in that specific case.




This is a bad application." So there is an amount of negative applications out there, however only when that click here procedure gets prior to a management legislation court do we see much in the way of information. Now, there was one situation that you pointed out, and let me simply clarify on that particular a little.

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Mr - EB5 Regional Center Program. North. The dairy ranch had actually asserted 17 employees, and they obtained into it, and the court found that 16 of them were illegals.


Okay. I am mosting likely to ask different questions of each of the 3 of you, however it deals with this set problem. As I claimed in my opening statement, I am concerned about the potential loophole that allows investors to withdraw their financial investment in local facilities after receiving their copyright.


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


If I place my money in a hotel growth-- Senator Grassley. Can I assume then that you are stating that there does not need to be any type of changes made in that respect? Mr. Divine. I do not believe so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his/her financial investment quickly after obtaining a copyright? Mr.

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Legislator, no. Our programs need that the financier be invested for a minimum of 5 years and be repaid just if the service remains in a placement to do so at the end of that time. We have the benefit of the funding to create the service, get it running, make it successful, assure that the work will certainly be created and preserved, and then only if the service is effective will certainly there be an exit technique for the financier.