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And I have actually been happy to satisfy them and happy to welcome them. Chairman Leahy. Likewise, as my last inquiry, in some of the statement this early morning there has actually been a pointer that, obviously, simply with all the hundreds of billions, trillions of dollars prepared to spend, you ought to simply go someplace else.


Stenger. I would certainly inform you that in this climate the ability to elevate funding for the things we are doing would certainly have-- it is impossible to do so in a way that would certainly permit us as properly and as promptly produce the important things we have done. You can borrow cash if you have obtained half down.


I might have borrowed fifty percent of that if I had the $12 million in money to install. Everyone recognizes that, yes, banks have cash to lending as long as you have actually got fifty percent of it in your pocket prior to you ask for the various other fifty percent. That is not how company works nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will certainly leave that simply as a gratuitous remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I wish to be liable in this concern of undocumented workers. I want to confess that we just have anecdotal info, yet I want to ask you to what level you need to go or do go to ensure that the centers see to it that the financial investments do not produce tasks for people right here unlawfully.


Mr. Stenger. We have actually employed-- as I claimed, at the Height we had 550 building and construction employees on our task.


They are comprised of 10, 15, 20, 30 staff members. They are from our neighborhood areas. They are Vermonters. They are benefiting directly from the investment. We are a hands-on center. I know the workers, I understand their family members, see this site and we have actually been able to utilize-- via these last 3 years of awful financial chaos, we have actually been able to employ almost every building and construction worker in our county and the surrounding areas.

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They are invested in the areas, and they are all U.S. workers. Legislator Grassley. Mr. Stenger.


Mr. North, along the same lines of the question I asked him, has your research shown examples other-- and I only provided one example, so I want to admit that and be accountable about it-- of centers hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is an amount of negative applications available, however only as soon as that procedure gets before a management regulation court do we see much in the way of information. Currently, there was one instance that you pointed out, and allow me just clarify on that a little bit.

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Do not take also long because I desire to ask another couple questions. Go ahead and quickly finish. Mr. North. The dairy farm 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 a fine example.


Okay. I am mosting likely to ask separate inquiries of each of the 3 of you, yet it deals find out here with this one issue. As I claimed in my opening declaration, I am worried concerning the possible loophole that allows financiers to withdraw their financial investment in regional centers after obtaining their permit.


Mr. Divine. I would say that many of the financiers, if you asked my company them what are their goals, they would state, "I desire to obtain an eco-friendly card, and I want to keep it.


If I put my money in a resort development-- Legislator Grassley. Can I assume then that you are claiming that there does not require to be any type of changes made because respect? Mr. Divine. I do not believe so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his/her financial investment instantly after getting an environment-friendly card? Mr.

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Senator, no. Our programs require that the financier be spent for a minimum of 5 years and be repaid just if business remains in a setting to do so at the end of that time. So we have the benefit of the funding to create business, obtain it running, make it effective, guarantee that the jobs will certainly be developed and preserved, and then only if business is effective will certainly there be an exit strategy for the capitalist.