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And I have actually been proud to satisfy them and honored to welcome them. Chairman Leahy. Also, as my last concern, in several of the testimony today there has been a tip that, naturally, simply with all the numerous billions, trillions of bucks ready to invest, you must just go elsewhere.

Stenger. I would certainly tell you that in this climate the capability to increase capital for the important things we are doing would have-- it is difficult to do so in a fashion that would certainly enable us as effectively and as swiftly produce things we have actually done. You can obtain cash if you have got 50 percent down.

I could have obtained half of that if I had the $12 million in cash to install. Everybody knows that, yes, financial institutions have money to loan as long as you have obtained half of it in your pocket before you request for the other fifty percent. That is not exactly how business functions these days.

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Legislator Grassley. Senator Grassley. I want to admit that we only have unscientific details, but I would like to ask you to what degree you have to go or do go to make certain that the facilities make certain that the investments do not produce tasks for individuals below illegally.

Mr. Stenger. Senator, I am a hands-on owner of a service, and I am on-property every solitary day. We have actually worked with-- as I claimed, at the Peak we had 550 building workers on our job. The marching orders that I provided to my group is that we are to hire local companies in practically every instance to do all of the building.

They are made up of 10, 15, 20, 30 employees. They are from our neighborhood areas. They are Vermonters. They are profiting straight from the investment. We are a hands-on facility. I know the workers, I know their families, and we have been able to utilize-- through these last 3 years of horrible economic turmoil, we have been able to employ almost every building employee in our area and the bordering regions.

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They are spent in the communities, and they are all United state employees. Senator Grassley. Mr. Stenger.

Mr. North, along the same lines of the question I asked him, has your research revealed instances other-- and I just provided one example, so I want to admit that and be responsible regarding it-- of facilities hiring undocumented people? Mr. EB5 Regional Center Program. North.



This is a bad application." There is an amount of bad applications out there, yet just when that procedure gets before a management regulation court do we see much in the means of detail. Currently, there was one instance that you stated, and allow me just clarify on that a little.

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Do not take too long since I intend to ask another couple questions. However go on and swiftly coating. Mr. North. The dairy ranch had actually asserted 17 employees, and they entered it, and the judge discovered that 16 of them were illegals. Now, that is the one example I have, and it is an example.

Okay. I am going to ask separate inquiries of each of the 3 of you, however it takes care of this more info issue. As I stated in my opening statement, I am concerned concerning the potential technicality that permits capitalists to withdraw their financial investment in regional centers after obtaining their copyright.

Mr. Divine. I would state that many of the financiers, if you asked them what are their objectives, they would state, "I want to get an eco-friendly card, and I desire to maintain it.

If I place my money in a resort advancement-- Senator Grassley. Can I assume then that you are stating that there does not need to be any kind of changes made in that respect? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her financial investment immediately after receiving an environment-friendly card? Mr.

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Legislator, no. Our programs need that the investor be invested for a minimum of 5 years and be repaid only if the service is in a setting to do so at the end of that time. We have the advantage of the funding to create the business, obtain it running, make it successful, ensure that the jobs will certainly be produced and maintained, and after that only if the organization is successful will certainly there be a departure strategy for the capitalist.

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