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And I have been honored to meet them and proud to welcome them. Chairman Leahy. As my last question, in some of the statement this early morning there has actually been a recommendation that, of program, simply with all the hundreds of billions, trillions of bucks ready to invest, you should just go someplace else.


Stenger. I would certainly inform you that in this environment the capacity to elevate resources for the important things we are doing would certainly have-- it is impossible to do so in a fashion that would allow us as properly and as quickly produce the important things we have done. You can obtain cash if you have got half down.


I could have obtained fifty percent of that if I had the $12 million in cash to set up. Everyone recognizes that, yes, financial institutions have cash to loan as long as you have got fifty percent of it in your pocket before you request for the other fifty percent. That is not just how company works nowadays.

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You are talking from a real-world experience, not from a think container experience. I will certainly leave that merely as an unjustified remark from the Chairman. Senator Grassley. Senator Grassley. Thank you. I wish to be accountable in this problem of undocumented workers. I intend to admit that we only have unscientific information, however I wish to ask you to what level you need to go or do most likely to see to it that the facilities make certain that the financial investments do not create work for individuals below unlawfully.


Mr. Stenger. Legislator, I am a hands-on owner of an organization, and I am on-property every single day. We have actually hired-- as I claimed, at the Optimal we had 550 building employees on our task. The marching orders that I offered to my team is that we are to hire neighborhood business in nearly every instance to do every one of the building and construction.


They are made up of 10, 15, 20, 30 workers. They are from our neighborhood regions. They are Vermonters. They are profiting straight from the investment. So we are a hands-on facility. I understand the workers, I recognize their households, and we have been able to utilize-- via these last 3 years of dreadful financial chaos, we have been able to click here employ almost every building employee in our county and the surrounding counties.

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homeowners. They live in the area. Their families are there. They are invested in the areas, and they are all U.S. employees. Senator Grassley. You do not have to utilize e-verify, however I would love to know whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thanks. Mr. North, along the same lines of the concern I asked him, has your research shown examples various other-- and I only gave one example, so I desire to admit that and be responsible regarding it-- of centers hiring undocumented individuals? Mr. North. That type of data is extremely tough to get from USCIS, and I need to claim that what we do recognize about most of the inner features of that agency regarding this program is concerned associates with situations in which the staff has actually claimed no to an application of some kind and after that the regional center or the specific business owner has actually gone to the Administrative Appeals Workplace-- which is component of the company-- and there we obtain documents, we obtain a hearing officer telling us what is taking place because specific instance.




This is a bad application." So there is an amount of bad applications available, yet just when that procedure gets prior to a management legislation judge do we see much in the means of information. Now, there was one situation that you discussed, and allow me simply clarify on that a little bit.

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


Okay. I am going to ask different inquiries of each of the 3 of you, however it takes care of this problem. As I said in my opening statement, I am concerned about the possible technicality that enables financiers to withdraw their investment in regional facilities after getting their copyright.


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


If I put my cash in a resort growth-- Senator Grassley. Can I assume then that you are stating that there does not require to be any changes made in that respect? Mr. Divine. I do not think so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her financial investment quickly after obtaining a permit? Mr.

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Senator, no. Our programs require that the financier be spent for a minimum of 5 years and be paid back just if the company remains in a placement to do so at the end of that time. So we have the benefit of the resources to produce business, get it running, make it effective, guarantee that the tasks will certainly be created and kept, and then only if business achieves success will there be a departure method for the financier.