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And I have actually been honored to fulfill them and pleased to welcome them. Chairman Leahy. Likewise, as my last question, in some of the testament today there has actually been a recommendation that, naturally, just with all the hundreds of billions, trillions of bucks all set to spend, you should simply go elsewhere.


Stenger. I would inform you that in this environment the ability to elevate capital for the important things we are doing would have-- it is impossible to do so in a fashion that would certainly permit us as efficiently and as quickly produce the important things we have actually done. You can obtain money if you have actually got 50 percent down.


I could have obtained half of that if I had the $12 million in cash money to put up. Everyone recognizes that, yes, banks have money to finance as long as you have actually obtained fifty percent of it in your pocket prior to you request the other half. That is not how company works nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will certainly leave that just as a gratuitous remark from the Chairman. Legislator Grassley. Senator Grassley. Thanks. I want to be liable in this concern of undocumented workers. I wish to admit that we just have unscientific info, however I would love to ask you to what degree you have to go or do go to make sure that the centers ensure that the investments do not create jobs for people here unlawfully.


Mr. Stenger. We have worked with-- as I said, at the Height we had 550 building and construction employees on our job.


They are made up of 10, 15, 20, 30 employees. They are benefiting directly from the financial investment. I know the workers, I recognize their families, and we have been able to utilize-- with these last 3 years of dreadful financial turmoil, we have actually been able to use virtually every building and construction employee in our area and the bordering regions.

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homeowners. They live in the location. Their family members are there. They are bought the areas, and they are all U.S. employees. Senator Grassley. You do not need to make use of e-verify, but I would love to recognize whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the same lines of the concern I asked him, has your research study shown instances other-- and I only gave one instance, so I want to admit that and be responsible regarding it-- of facilities working with undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." There is an amount of bad applications out there, yet just once that process gets before an administrative law court do we see a lot in the method of detail. Now, there was one situation that you pointed out, and allow me simply clarify on that particular a little.

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


Okay. I am mosting likely to ask different concerns of each of the three of you, but it takes care of this one concern. As I claimed in my opening declaration, I am concerned about the potential technicality that enables financiers to withdraw their investment in local facilities after getting their permit.


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


If I place my money in a hotel growth-- Legislator Grassley. Can I assume then that you are saying that there does not need to be any kind of adjustments made in that regard? Mr. Divine. I do not assume so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for an investor in your experience to withdraw his or her financial investment instantly after obtaining a permit? Mr.

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Senator, no. Our programs call for that the capitalist be invested for a minimum of 5 years and be paid back only if business is in a placement to do so at the end of that time. We have the advantage of the resources to develop the company, get it running, make it effective, guarantee that the jobs will certainly be created and maintained, and after that only if the service is successful will certainly there be a departure approach for the financier.