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And I have been honored to satisfy them and pleased to welcome them. Chairman Leahy. As my last inquiry, in some of the testimony this morning there has been a tip that, of program, simply with all the hundreds of billions, trillions of dollars prepared to spend, you should just go somewhere else.


Stenger. I would inform you that in this climate the capability to elevate capital for things we are doing would have-- it is difficult to do so in a way that would certainly permit us as successfully and as quickly develop the important things we have actually done. You can borrow money if you have actually obtained 50 percent down.


I might have borrowed half of that if I had the $12 million in cash to install. Every person recognizes that, yes, financial institutions have cash to car loan as long as you have got half of it in your pocket prior to you ask for the various other half. That is not exactly how service functions these days.

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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 comment from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I wish to be liable in this problem of undocumented workers. I wish to confess that we only have unscientific information, however I would love to ask you to what level you need to go or do most likely to make certain that the facilities see to it that the investments do not develop work for individuals right here unlawfully.


Mr. Stenger. We have employed-- as I said, at the Peak 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 investment. I recognize the employees, I understand their family members, and we have been able to employ-- with these last 3 years of terrible financial turmoil, we have actually been able to use nearly every construction worker in our region and the bordering regions.

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locals. They reside in the area. Their households are there. They are invested in the communities, and they are all united state workers. Legislator Grassley. You do not have to use e-verify, however I wish to recognize whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the exact 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 confess that and be liable about it-- of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is a quantity of negative applications out there, however only once that process obtains prior to an administrative law judge do we see a lot in the way of detail. Now, there was one case that you mentioned, and let me simply specify on that a bit.

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Do not take too long because I intend to ask one more couple concerns. Yet go on and promptly surface. Mr. North. The dairy products farm had actually claimed 17 workers, and they entered it, and the judge discovered that 16 of them were illegals. website Now, that is the one example I have, and it is a good example.


Okay. I am going to ask different inquiries of each of the three of you, yet it manages this set issue. As I claimed in my opening declaration, I am concerned about the prospective loophole that allows investors to withdraw their financial investment in regional centers after getting their permit.


Divine, are you familiar with any kind of circumstances in which a capitalist took out the investment and strolled away quickly after getting a permit? And if you are, or if you assume it is an issue, do you assume that it is a loophole that should be closed? Mr. Divine. I would certainly claim that many of the financiers, if you asked them what are their objectives, they would certainly claim, "I desire to obtain a permit, and I wish to keep it.


Mr. Divine. Let me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his or her investment quickly after receiving a copyright? Mr.


Senator, legislator.