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And I have been honored to meet them and pleased to invite them. Chairman Leahy. Likewise, as my last inquiry, in some of the testament today there has been a suggestion that, naturally, just with all the numerous billions, trillions of bucks ready to invest, you ought to simply go elsewhere.


Stenger. I would inform you that in this environment the capability to raise capital for things we are doing would certainly have-- it is impossible to do so in a manner that would certainly allow us as efficiently and as rapidly create things we have done. You can borrow money if you have actually got half down.


I can have obtained half of that if I had the $12 million in cash money to set up. Everyone recognizes that, yes, financial institutions have money to lending as long as you have obtained half of it in your pocket prior to you request the other half. That is not just how service functions nowadays.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that merely as an unjustified remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I desire to be accountable in this concern of undocumented workers. I wish to confess that we only have unscientific information, however I would like to ask you to what degree you need to go or do go to make certain that the facilities see to it that the financial investments do not create work for individuals here illegally.


Mr. Stenger. We have employed-- as I stated, at the Height we had 550 building and construction workers on our job.


They are made up of 10, 15, 20, 30 staff members. They are profiting straight from the investment. I know the workers, I know their families, and we have actually been able to utilize-- through these last 3 years of terrible financial chaos, we have been able to utilize nearly every building worker in our county and the bordering areas.

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They are invested in the areas, and they are all U.S. workers. Legislator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the concern I asked him, has your research study revealed instances various other-- and I just offered one example, so I want to admit that and be my blog liable concerning it-- of centers hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." There is an amount of negative applications out there, however only once that process obtains prior to an administrative law court do we see a lot in the means of information. Now, there was one case that you mentioned, and let me simply clarify on that a little bit.

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Do not take too long due to the fact that I wish to ask an additional couple inquiries. Go ahead and swiftly coating. Mr. North. The milk ranch had actually claimed 17 workers, and they got involved in it, and the judge discovered that 16 of them were illegals. Now, that is the one example I have, and it is a fine example.


Okay. I am going to ask separate inquiries of each of the three of you, however it deals with this issue. As I stated in my opening statement, I am concerned regarding the potential technicality that permits capitalists to withdraw their financial investment in regional facilities after getting their permit.


Mr. Divine. I would certainly state that most of the investors, if you asked them what are their objectives, they would claim, "I want to get a copyright, and I desire to keep it.


If I place my money in a hotel advancement-- Senator Grassley. Can I think then that you are saying that there does not require to be any adjustments made because regard? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it typical for try this an investor in your experience to withdraw his/her investment quickly after getting a permit? Mr.

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Legislator, no. Our programs call for that the financier be spent for page a minimum of 5 years and be paid back just if the business remains in a position to do so at the end of that time. So we have the advantage of the funding to produce the service, obtain it running, make it successful, guarantee that the tasks will certainly be produced and maintained, and afterwards just if the business succeeds will there be a departure technique for the investor.