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And I have been pleased to satisfy them and proud to invite them. Chairman Leahy. Also, as my last inquiry, in some of the testimony today there has been a suggestion that, of course, just with all the hundreds of billions, trillions of bucks prepared to invest, you must simply go elsewhere.


Stenger. I would certainly inform you that in this climate the ability to raise capital for things we are doing would certainly have-- it is difficult to do so in a way that would certainly permit us as properly and as swiftly create things we have actually done. You can borrow cash if you have actually got half down.


I could have borrowed half of that if I had the $12 million in money to place up. Every person knows that, yes, banks have cash to financing as long as you have actually obtained half of it in your pocket prior to you ask for the other half. That is not just how organization works these days.

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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 comment from the Chairman. Legislator Grassley. Legislator Grassley. Thank you. I intend to be accountable in this problem of undocumented employees. I want to confess that we only have anecdotal info, but I would like to ask you to what level you have to go or do most likely to make certain that the centers see to it that the investments do not create work for people right here illegally.


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


They are made up of 10, 15, 20, 30 workers. They are profiting directly from the investment. I understand the workers, I know their families, and we have been able to use-- through these last 3 years of horrible economic turmoil, we have actually been able to utilize almost every building worker in our region and the bordering areas.

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citizens. They stay in the area. Their households are there. They are invested in the areas, and they are all united state employees. Legislator Grassley. You do not need to use e-verify, however I want to recognize whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the my latest blog post same lines of the concern I asked him, has your study shown examples other-- and I only offered one instance, so I want to confess that and be liable concerning it-- of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a poor application." So there is a quantity of bad applications around, yet just when that procedure obtains before an administrative regulation court do we see a lot in the means of detail. Now, there was one case that you mentioned, and let me simply clarify on that a little.

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Mr - EB5 Regional Center Program. North. The dairy products farm had actually declared 17 workers, and they got right into it, and the judge found that 16 of them were illegals.


Okay. I am going to ask separate inquiries of each of the 3 of you, yet it Recommended Reading manages this issue. As I stated in my opening statement, I am concerned about the possible loophole that enables capitalists to withdraw their investment in local facilities after getting their environment-friendly card.


Divine, are you knowledgeable about any instances in which a financier withdrew the financial investment and walked away quickly after receiving a permit? And if you are, or if you think it is an issue, do you believe that it is a loophole that should be closed? Mr. Divine. I would say that most of the capitalists, if you asked them what are their objectives, they would claim, "I desire to obtain an environment-friendly card, and I desire to keep it.


Mr. Divine. Let me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his or her investment immediately after getting an eco-friendly card? this content Mr.


Senator, no.