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And I have actually been proud to meet them and honored to welcome them. Chairman Leahy. As my last inquiry, in some of the testament this morning there has been a tip that, of training course, just with all the hundreds of billions, trillions of dollars prepared to spend, you need to simply go someplace else.


Stenger. I would tell you that in this environment the capacity to raise capital for things we are doing would have-- it is impossible to do so in a fashion that would permit us as properly and as promptly develop the things we have done. You can obtain cash if you have actually got half down.


I might have borrowed half of that if I had the $12 million in cash to set up. Every person understands that, yes, banks have cash to finance as long as you have actually got fifty percent of it in your pocket before you request for the other fifty percent. That is not exactly how company 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 just as an unjustified remark from the Chairman. Senator Grassley. Senator Grassley. Thanks. I intend to be responsible in this problem of undocumented workers. I desire to confess that we just have anecdotal info, yet I want to ask you to what degree you need to go or do go to make certain that the centers make certain that the investments do not produce tasks for individuals here illegally.


Mr. Stenger. Legislator, I am a hands-on proprietor of a company, and I am on-property every day. We have worked with-- as I claimed, at the Optimal we had 550 construction workers on our project. The marching orders that I gave to my team is that we are to hire regional business in nearly every circumstances to do every these details one of the building.


They are comprised of 10, 15, 20, 30 workers. They are from our local counties. They are Vermonters. They are profiting special info straight from the financial investment. We are a hands-on center. I understand the workers, I understand their families, and we have been able to use-- via these last 3 years of dreadful financial turmoil, we have been able to employ virtually every building and construction employee in our region and the surrounding counties.

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


Thanks. Mr. North, along the very same lines of the question I asked him, has your research study shown instances other-- and I only offered one example, so I desire to confess that and be liable about it-- of centers employing undocumented people? Mr. North. That type of information is really hard to get from USCIS, and I need to say that what we do understand about a number of the interior aspects of that agency as far as this program is worried connects to cases in which the team has stated no to an application of some kind and then the regional facility or the individual business owner has actually gone to the Administrative Appeals Office-- go to these guys which becomes part of the agency-- and there we get files, we get a hearing police officer informing us what is going on because particular instance.




This is a negative application." So there is an amount of poor applications out there, but only once that procedure obtains before an administrative legislation judge do we see much in the means of detail. Now, there was one instance that you mentioned, and let me just specify on that a little bit.

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


Okay. I am going to ask different concerns of each of the 3 of you, yet it deals with this one problem. As I stated in my opening statement, I am concerned concerning the possible technicality that enables investors to withdraw their financial investment in local centers after receiving their copyright.


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


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


Senator, no.