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And I have actually been honored to meet them and pleased to invite them. Chairman Leahy. As my last inquiry, in some of the statement this early morning there has been an idea that, of course, just with all the hundreds of billions, trillions of bucks ready to spend, you ought to simply go somewhere else.

Stenger. I would tell you that in this climate the ability to elevate funding for the important things we are doing would have-- it is impossible to do so in a fashion that would permit us as successfully and as promptly develop the things we have done. You can obtain money if you have actually got half down.

I can have borrowed fifty percent of that if I had the $12 million in cash money to set up. Everyone knows that, yes, banks have cash to funding as long as you have actually got fifty percent of it in your pocket prior to you request for the various other half. That is not exactly how company functions these days.

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You are speaking from a real-world experience, not from a think container experience. I will leave that merely as a gratuitous comment from the Chairman. Senator Grassley. Legislator Grassley. Thank you. I wish to be accountable in this problem of undocumented employees. I intend to confess that we just have anecdotal information, yet I want to ask you to what level you need to go or do most likely to see to it that the centers make certain that the financial investments do not develop tasks for people here illegally.

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

They are comprised of 10, 15, 20, 30 employees. They are from our neighborhood counties. They are Vermonters. They are benefiting straight from the investment. We are a hands-on center. I recognize the employees, I understand their family members, and we have had the ability to use-- via these last 3 years of horrible financial chaos, we have had the ability to employ virtually every building and construction worker in our county and the bordering counties.

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

Thanks. Mr. North, along the exact same lines of the inquiry I asked him, has your research revealed instances other-- and I just offered one instance, so I wish to admit that and be liable concerning it-- of facilities hiring undocumented people? Mr. North. That type of data is very difficult to get from USCIS, and I have to claim that what we do find out about much of the here inner aspects of that company as far as this program is concerned associates with instances in which the staff has claimed no to an application of some kind and after that the local facility or the individual business owner has gone to the Administrative Appeals Office-- which is component of the company-- and there we obtain files, we get a hearing policeman informing us what is going on because certain case.



This is a negative application." So there is a quantity of bad applications available, however just once that process gets before a management regulation judge do we see a lot in the method of detail. Currently, there was one case that you discussed, and allow me simply elaborate on that particular a bit.

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Mr - EB5 Regional Center Program. North. The milk ranch had actually claimed 17 workers, and they got right into it, and the judge located that 16 of them were illegals.

Okay. I am mosting likely to ask separate concerns of each of the 3 of you, but it deals with this set problem. As I claimed in my opening declaration, I am concerned regarding the possible technicality that allows financiers to withdraw their financial investment in local facilities after receiving their eco-friendly card.

Mr. Divine. I would claim that most of the capitalists, if you asked them what are their goals, they would certainly say, "I desire to get an environment-friendly card, and I desire to keep it.

If I put my cash in a hotel growth-- Senator Grassley. Can I assume then that you are claiming that there does not require to be any modifications made because regard? Mr. Divine. I do not think so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his/her financial investment immediately after receiving an environment-friendly card? Mr.

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Legislator, no. Our programs call for that the financier be spent for a minimum of 5 years and be repaid just if business is in a setting to do so at the end of that time. We have the advantage of the funding to create the business, get it running, make it effective, guarantee that the jobs will certainly be produced and kept, and after that only if the service is successful will there be an exit method for the investor.

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