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And I have been honored to meet them and happy to invite them. Chairman Leahy. Also, as my last inquiry, in some of the testimony this morning there has been a tip that, obviously, just with all the numerous billions, trillions of bucks ready to invest, you must simply go elsewhere.


Stenger. I would certainly inform you that in this climate the capability to raise capital for the points we are doing would certainly have-- it is impossible to do so in a way that would permit us as effectively and as promptly create things we have actually done. You can borrow money if you have obtained 50 percent down.


I could have borrowed fifty percent of that if I had the $12 million in money to install. Every person understands that, yes, financial institutions have money to financing as long as you have actually got fifty percent of it in your pocket prior to you ask for the various other half. That is not just how organization works nowadays.

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Legislator Grassley. Senator Grassley. I want to admit that we only have anecdotal details, but I would like to ask you to what degree you have to go or do go to make sure that the facilities make sure that the investments do not produce jobs for people here illegally.


Mr. Stenger. Legislator, I am a hands-on owner of a company, and I am on-property every solitary day. We have employed-- as I claimed, at the Peak we had 550 building and construction workers on our task. The marching orders that I gave to my group is that we are to hire local companies in practically every instance to do every one of the construction.


They are made up of 10, 15, 20, 30 workers. They are benefiting straight from the financial investment. I know the employees, I recognize their households, and we have been able to employ-- through these last 3 years of dreadful financial turmoil, we have actually been able to use nearly every building worker in our area and the bordering regions.

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locals. They stay in the area. Their family members exist. They are bought the neighborhoods, and they are all united state workers. Legislator Grassley. You do not have to make use of e-verify, but I want to understand whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the same lines of the question I asked him, has your research revealed examples other-- and I only gave one example, so I want to confess that and be liable concerning it-- of facilities employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is an amount of bad applications around, however only as soon as that procedure obtains prior to an administrative law court do we see a lot in the method of detail. Now, there was one instance that you stated, and allow me just specify on that a little bit.

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Do not take also long because I intend to ask another pair inquiries. Go in advance and promptly coating. Mr. North. The milk farm had actually asserted 17 workers, and they got into it, and the click here judge found that 16 of them were illegals. Currently, 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 takes care of this one issue. As I said in my opening declaration, I am worried regarding the possible technicality that enables investors to withdraw their financial investment in local facilities after getting their eco-friendly card.


Divine, are you knowledgeable about any circumstances in which a capitalist took out the investment and walked away right away after getting an eco-friendly card? And if you are, or if you believe it is a problem, do you assume that it is a loophole that should be shut? Mr. Divine. I would certainly claim that the majority of the capitalists, if you asked what are their goals, they would certainly state, "I wish to obtain a permit, and I intend to maintain it.


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


Senator, no.