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And I have been honored to fulfill them and pleased to invite them. Chairman Leahy. Also, as my last concern, in several of the testimony today there has actually been an idea that, of course, just with all the thousands of billions, trillions of bucks ready to invest, you must simply go elsewhere.

Stenger. I would tell you that in this climate the ability to elevate resources for things we are doing would have-- it is impossible to do so in a fashion that would certainly permit us as effectively and as quickly develop things we have done. You can borrow cash if you have got 50 percent down.

I can have obtained half of that if I had the $12 million in cash to install. Everyone knows that, yes, financial institutions have money to financing as long as you have obtained half of it in your pocket prior to you request the other half. That is not just how service works nowadays.

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Senator Grassley. Senator Grassley. I want to confess that we just have unscientific information, but I would like to ask you to what extent you have to go or do go to make certain that the facilities make certain that the financial investments do not create tasks for people below unlawfully.

Mr. Stenger. We have actually worked with-- as I said, at the Peak we had 550 building employees on our job.

They are comprised of 10, 15, 20, 30 workers. They are from our local counties. They are Vermonters. They are benefiting straight from the financial investment. So we are a hands-on center. I know the workers, I recognize their family members, and we have been able to use-- via these last 3 years of dreadful financial chaos, we have actually been able to employ practically every building employee in our region and the surrounding areas.

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They are spent in the communities, and they are all United state employees. Senator Grassley. Mr. Stenger.

Mr. North, along the exact same lines of the inquiry I asked him, has your study shown instances various other-- and I just offered one instance, so I desire to admit that and be responsible about it-- of facilities employing undocumented people? Mr. EB5 Regional Center Program. North.



This is a negative application." So there is a quantity of bad applications around, yet just when that procedure gets prior to a management regulation court do we see much in the way of detail. Now, there was one situation that you pointed out, and let me simply clarify on that a little.

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Do not take too long due to the fact that I intend to ask another couple questions. However proceed and promptly coating. Mr. North. The milk ranch had actually asserted 17 workers, and they got right into it, and the court discovered that 16 of them were illegals. Currently, that is the one instance I have, and it is a fine example.

Okay. I am mosting likely to ask different inquiries of each of the 3 of you, yet it manages this set concern. As I stated in my opening declaration, I am concerned concerning the potential loophole that allows capitalists to withdraw their financial investment in local facilities after receiving their eco-friendly card.

Divine, are you familiar with any type of instances in which a financier withdrew the financial investment and left promptly after obtaining a permit? And if you are, or if you believe it is an issue, do you think that it is a loophole that should be closed? Mr. Divine. I would certainly state that the majority of the investors, if you asked them what are their objectives, they would certainly say, "I wish to obtain a permit, and I wish to maintain it.

Mr. Divine. Allow me ask Mr. Stenger, is it usual for a capitalist in your get more info experience to withdraw his or her financial investment instantly after obtaining an environment-friendly card? Mr.

Senator, no.

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