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And I have actually been proud to meet them and pleased to invite them. Chairman Leahy. As my last concern, in some of the testimony this early morning there has been a suggestion that, of training course, simply with all the hundreds of billions, trillions of dollars all set to spend, you need to simply go somewhere else.


Stenger. I would tell you that in this environment the ability to elevate capital for the points we are doing would certainly have-- it is impossible to do so in a way that would allow us as efficiently and as promptly develop the things we have done. You can borrow money if you have actually got half down.


I might have obtained half of that if I had the $12 million in money to place up. Everybody understands that, yes, financial institutions have cash to finance as long as you have actually obtained fifty percent of it in your pocket prior to you request for the various other half. That is not just how business functions these days.

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You are speaking from a real-world experience, not from a brain trust experience. I will certainly leave that merely as an unjustified remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I desire to be liable in this problem of undocumented workers. I wish to confess that we only have anecdotal info, but I would love to ask you to what degree you have to go or do most likely to make sure that the centers ensure that the financial investments do not create tasks for individuals right here unlawfully.


Mr. Stenger. We have worked with-- as I said, at the Optimal we had 550 building and construction employees on our project.


They are made up of 10, 15, 20, 30 staff members. They are profiting straight from the investment. I recognize the employees, I understand their family members, and we have been able to utilize-- with these last 3 years of terrible economic turmoil, we have actually been able to utilize nearly every building and construction employee in our region and the surrounding counties.

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They are invested in the neighborhoods, and they are all United state workers. Senator Grassley. Mr. Stenger.


Mr. North, along the very same lines of the concern I asked him, has your study revealed instances other-- and I only provided one example, so I want to admit that and be liable about it-- of centers working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a bad application." There is a quantity of poor applications out there, yet only as soon as that process gets prior to an administrative regulation court do we see much in the way of information. Currently, there was one situation that you pointed out, and allow me just specify on that particular a bit.

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Do not take also long since I want to ask another pair inquiries. However go in advance and quickly surface. Mr. North. The dairy farm had declared 17 workers, and they entered it, and the judge located that 16 of them were illegals. Currently, that is the one instance I have, and it is an example.


Okay. I am mosting likely to ask different questions of each of the 3 of you, yet it takes care of this one problem. As I claimed in my opening declaration, I am worried about the prospective loophole that permits financiers to withdraw their financial click here investment in regional facilities after getting their copyright.


Divine, are you familiar with any kind of circumstances in which a financier took out the financial investment and left right away after obtaining a permit? And if you are, or if you think it is a trouble, do you believe that it is a loophole that should be closed? Mr. Divine. I would certainly claim that a lot of the capitalists, if you inquired what are their goals, they would certainly state, "I intend to obtain a permit, and I want to maintain it.


Mr. Divine. Allow me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his or her investment instantly after receiving an eco-friendly card? Mr.


Senator, no.