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And I have been pleased to satisfy them and proud to invite them. Chairman Leahy. Likewise, as my last inquiry, in some of the testament this morning there has actually been an idea that, of program, simply with all the hundreds of billions, trillions of dollars all set to invest, you must simply go somewhere else.


Stenger. I would certainly tell you that in this climate the capability to raise resources for the important things we are doing would have-- it is impossible to do so in a fashion that would enable us as successfully and as quickly produce the important things we have done. You can obtain money if you have obtained 50 percent down.


I can have obtained half of that if I had the $12 million in cash money to set up. Everybody knows that, yes, financial institutions have money to car loan as long as you have actually obtained half of it in your pocket prior to you ask for the various other half. That is not just how service works nowadays.

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You are speaking from a real-world experience, not from a think container experience. I will leave that just as an unjustified comment 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 just have unscientific info, yet I would like to ask you to what degree you need to go or do most likely to make certain that the centers make certain that the financial investments do not create tasks for individuals right here unlawfully.


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


They are made up of 10, 15, 20, 30 employees. They are profiting straight from the investment. I recognize the employees, I understand their families, and we have actually been able to utilize-- through these last 3 years of terrible financial turmoil, we have actually been able to utilize almost every building and construction employee in our county and the bordering regions.

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


Mr. North, along the exact same lines of the inquiry website I asked him, has your research study revealed examples other-- and I only gave one example, so I want to admit that and be responsible about it-- of centers hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is an amount of negative applications around, however only once that procedure obtains before an administrative regulation court do we see a lot in the way of detail. Currently, there was one situation that you discussed, and let me simply specify on that a little bit.

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Mr - EB5 Regional Center Program. North. The milk farm had declared 17 employees, and they obtained 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 three of you, however it takes care of this problem. As I stated in my opening statement, I am concerned concerning the potential technicality that permits capitalists to withdraw their financial investment in regional centers after getting their permit.


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


If I place my money in a resort development-- Legislator Grassley. Can I assume then that you are stating that there does not require to be any adjustments made in that respect? Mr. Divine. I do not believe so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his or her financial investment right away after receiving a copyright? Mr.

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Legislator, no. Our programs call for that the capitalist be invested for a minimum of 5 years and be paid back only if business remains in a position to do so at the end of that time. We have the benefit of the funding to produce the business, get it running, make it effective, guarantee that the tasks will be developed and preserved, and then just if the service is successful will certainly there be a departure technique for the investor.