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


Stenger. I would tell you that in this environment the capacity to raise capital for things we are doing would have-- it is difficult to do so in a manner that would certainly allow us as successfully and as promptly develop things we have done. You can obtain cash if you have got 50 percent down.


I could have borrowed fifty percent of that if I had the $12 million in cash to set up. Everybody understands that, yes, financial institutions have cash to finance as long as you have actually obtained fifty percent of it in your pocket prior to you request for the various other fifty percent. That is not exactly how business works these days.

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Senator Grassley. Senator Grassley. I desire to confess that we just have unscientific information, but I would like to ask you to what level you have to go or do go to make certain that the facilities make sure that the investments do not develop jobs for people below unlawfully.


Mr. Stenger. Senator, I am a hands-on proprietor of an organization, and I am on-property each and every single day. We have worked with-- as I said, at the Peak we had 550 building employees on our job. The marching orders that I provided to my team is that we are to work with regional business in nearly every instance to do every one of the building and construction.


They are comprised of 10, 15, 20, 30 employees. They are from our regional counties. They are Vermonters. They are profiting straight from the investment. So we are a hands-on center. I understand the employees, I recognize their families, and we have had the ability to employ-- with these last 3 years of dreadful economic turmoil, we have been able to use virtually every construction worker in our read more area and the surrounding regions.

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locals. They live in the location. Their family members exist. They are purchased the communities, and they are all U.S. employees. Senator Grassley. You do not have to utilize e-verify, but I wish to understand whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thank you. Mr. North, along the exact same lines of the inquiry I asked him, has your research study revealed instances other-- and I only offered one instance, so I intend to admit that and be accountable concerning it-- of facilities hiring undocumented people? Mr. North. That sort of information is extremely difficult to get from USCIS, and I need to say that what we do find out about much of the interior aspects of that agency regarding this program is worried associates with situations in which the personnel has actually claimed no to an application of some kind and after that the regional center or the individual entrepreneur has actually gone to the Administrative Appeals Office-- which becomes part of the company-- and there we obtain files, we get a hearing police officer informing us what is taking place because specific instance.




This is a bad application." There is an amount of poor applications out there, but just when that process obtains before an administrative regulation court do we see much in the way of detail. Now, there was one case that you discussed, and allow me simply elaborate on that a little.

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


Okay. I am mosting likely to ask different concerns of each of the three of you, but it handles this issue. As I said in my opening statement, I am worried about the possible technicality that permits capitalists to withdraw their investment in regional centers after getting their permit.


Mr. Divine. I would say that most of the financiers, if you asked them what are their goals, they would certainly state, "I want to obtain a copyright, and I desire to keep it.


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


Senator, legislator.