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And I have been happy to fulfill them and happy to invite them. Chairman Leahy. As my last question, in some of the statement this morning there has actually been a tip that, of program, simply with all the hundreds of billions, trillions of bucks prepared to spend, you need to simply go somewhere else.


Stenger. I would certainly inform you that in this climate the capacity to raise capital for things we are doing would certainly have-- it is impossible to do so in a fashion that would permit us as efficiently and as promptly create the important things we have actually done. You can borrow cash if you have got 50 percent down.


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

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You are speaking from a real-world experience, not from a think container experience. I will leave that simply as an unjustified comment from the Chairman. Legislator Grassley. Senator Grassley. Thank you. I wish to be accountable in this problem of undocumented workers. I intend to admit that we just have unscientific details, but I want to ask you to what degree you have to go or do go to see to it that the facilities ensure that the financial investments do not develop jobs for people here illegally.


Mr. Stenger. Senator, I am a hands-on owner of an organization, and I am on-property every single day. We have employed-- as I claimed, at the Optimal we had 550 construction workers on our project. The marching orders that I provided to my team is that we are to employ neighborhood companies in almost every instance to do all of the construction.


They are made up of 10, 15, 20, 30 employees. They are benefiting straight from the financial investment. I recognize the employees, I understand their households, and we have been able to employ-- through these last 3 years of horrible economic turmoil, we have actually been able to employ virtually every building and construction employee in our region and the bordering areas.

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


Mr. North, along the same lines of the concern I asked him, has your research shown examples other-- and I only offered one instance, so I want to admit that and be responsible regarding it-- of facilities hiring undocumented people? Mr. EB5 Regional Center Program. North.




This is a negative application." There is an amount of poor applications out there, however only once that process obtains before a management legislation judge do we see a lot in the method of information. Currently, there was one case that you discussed, and allow me simply specify on that particular a bit.

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Do not take as well long since I wish to ask click here one more couple questions. Go ahead and promptly finish. Mr. North. The dairy ranch had asserted 17 employees, and they entered it, and the court 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 different inquiries of each of the three of you, however it deals with this problem. As I claimed in my opening declaration, I am concerned about the prospective technicality that allows financiers to withdraw their financial investment in regional centers after receiving their permit.


Divine, are you familiar with any type of instances in which a financier withdrew the investment and walked away immediately after obtaining a permit? And if you are, or if you think it is a trouble, do you think that it is a technicality that should be shut? Mr. Divine. I would say that a lot of the financiers, if you asked them what are their objectives, they would certainly state, "I wish to get a copyright, and I wish to keep it.


If I place my money in a resort growth-- Senator Grassley. Can I presume then that you are claiming that there does not need to be any changes made in that regard? Mr. Divine. I do not think so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her financial investment right away after receiving an eco-friendly card? Mr.

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Legislator, no. Our programs need that the investor be spent for a minimum of 5 years and be paid back only if business remains in a position to do so at the end of that time. So we have the benefit of the resources to produce the organization, obtain it running, make it effective, ensure that the tasks will be created and preserved, and after that only if business is successful will certainly there be a leave strategy for the capitalist.