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And I have actually been happy to fulfill them and happy to invite them. Chairman Leahy. As my last inquiry, in some of the testimony this morning there has actually been a suggestion that, of program, just with all the hundreds of billions, trillions of bucks all set to spend, you ought to just go someplace else.


Stenger. I would inform you that in this environment the capability to raise capital for the important things we are doing would certainly have-- it is difficult to do so in a manner that would certainly permit us as properly and as swiftly produce the things we have actually done. You can borrow cash if you have actually got half down.


I might have borrowed fifty percent of that if I had the $12 million in money to put up. Every person understands that, yes, banks have cash to financing as long as you have actually got fifty percent of it in your pocket before you ask for the various other half. That is not how business functions nowadays.

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You are talking from a real-world experience, not from a think storage tank experience. I will certainly leave that simply as an unjustified remark from the Chairman. Senator Grassley. Senator Grassley. Thanks. I wish to be accountable in this concern of undocumented workers. I intend to confess that we just have anecdotal info, yet I wish to ask you to what degree you have to go or do go to see to it that the facilities make sure that the investments do not develop work for people right here unlawfully.


Mr. Stenger. Legislator, I am a hands-on owner of a company, and I am on-property every single day. We have employed-- as I stated, at the Optimal we had 550 construction workers on our job. The marching orders that I offered to my team is that we are to employ neighborhood companies in nearly every instance to do all of the building and construction.


They are composed of 10, 15, 20, 30 staff members. They are from our neighborhood areas. They are Vermonters. They are profiting straight from the financial investment. So we are a hands-on center. I understand the employees, I recognize their families, and we have been able to utilize-- via these last 3 years of horrible financial turmoil, we have had the ability to employ almost every building and construction employee in our area and the bordering areas.

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They are spent in the communities, and they are all U.S. workers. Senator Grassley. Mr. Stenger.


Mr. North, along the exact same lines of the inquiry I asked him, has your study revealed examples other-- and I only provided one instance, so I desire to admit that and be accountable concerning it-- of facilities hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." So there is an amount of poor applications available, but only once that process obtains prior to an administrative legislation judge do we see a visit lot in the way of detail. Now, there was one instance that you stated, and let me simply specify on that particular a little bit.

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


Okay. I am mosting likely to ask different questions of each of click resources the three of you, yet it handles this problem. As I stated in my opening statement, I am worried concerning the prospective technicality that allows investors to withdraw their investment in local centers after receiving their copyright.


Divine, are you familiar with any circumstances in which a capitalist withdrew the investment and strolled away immediately after obtaining an environment-friendly card? And if you are, or if you believe it is a problem, do you think that it is a technicality that EB5 Regional Center Program should be shut? Mr. Divine. I would claim that the majority of the capitalists, if you inquired what are their objectives, they would certainly say, "I desire to obtain a copyright, and I desire to maintain it.


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


Senator, legislator.