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And I have been happy to meet them and happy to invite them. Chairman Leahy. Also, as my last question, in several of the statement today there has actually been an idea that, of training course, simply with all the thousands of billions, trillions of dollars all set to invest, you need to simply go someplace else.

Stenger. I would tell you that in this environment the ability to raise capital for the things we are doing would certainly have-- it is impossible to do so in a way that would certainly enable us as effectively and as rapidly create the points we have actually done. You can obtain money if you have obtained half down.

I might have borrowed half of that if I had the $12 million in cash money to set up. Everybody understands that, yes, financial institutions have cash to car loan as long as you have actually got fifty percent of it in your pocket before you ask for the various other half. That is not just how service works these days.

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Legislator Grassley. Legislator Grassley. I desire to confess that we just have anecdotal information, yet I would such as to ask you to what extent you have to go or do go to make sure that the facilities make certain that the financial investments do not create tasks for people below unlawfully.

Mr. Stenger. We have hired-- as I stated, at the Optimal we had 550 construction employees on our project.

They are made up of 10, 15, 20, 30 employees. They are profiting directly from the investment. I recognize the employees, I understand their families, and we have actually been able to employ-- via these last 3 years of awful economic turmoil, we have been able to use practically every building and construction worker in our county and the bordering areas.

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citizens. They live in the area. Their families are there. They are bought the neighborhoods, and they are all U.S. employees. Senator Grassley. You do not need to use e-verify, however I want to understand whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.

Mr. North, along the same lines of the concern I asked him, has your study shown examples other-- and I just offered one example, so I desire to admit that and be accountable about it-- of centers hiring undocumented people? Mr. EB5 Regional Center Program. North.



This is a bad application." So there is a quantity of bad applications out there, however just once that process obtains before an administrative law court do we see much in the method of detail. Currently, there was one case that you pointed out, and allow me simply clarify on that particular a little.

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

Okay. I am going to ask different inquiries of each of the three of you, yet it manages this concern. As I said in my opening declaration, I am worried regarding the possible loophole that allows capitalists to withdraw their investment in local centers after getting their permit.

Mr. Divine. I would claim that many of the investors, if you asked them what are their objectives, they would claim, "I desire to obtain a copyright, and I desire to keep it.

If I place my money in a hotel advancement-- Senator Grassley. Can I presume then that you are stating that there does not require to be any modifications made because regard? Mr. Divine. I do not think so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his or her financial investment immediately after getting a permit? Mr.

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Legislator, no. Our programs need that the financier be invested for a minimum of 5 years and be paid back just if business is in a placement to do so at the end of that time. So we have the advantage of the capital to develop the company, obtain it running, make it effective, guarantee that the tasks will be check here created and preserved, and afterwards just if the business achieves success will there be a leave strategy for the financier.

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