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And I have been pleased to fulfill them and happy to welcome them. Chairman Leahy. As my last question, in some of the testament this morning there has actually been a pointer that, of program, just with all the hundreds of billions, trillions of bucks all set to invest, you should simply go someplace else.


Stenger. I would certainly inform you that in this environment the capacity to raise funding for the points we are doing would have-- it is impossible to do so in a way that would certainly permit us as efficiently and as rapidly produce the points we have actually done. You can obtain money if you have actually got 50 percent down.


I could have borrowed fifty percent of that if I had the $12 million in cash to install. Every person recognizes that, yes, banks have cash to finance as long as you have actually got half of it in your pocket before you ask for the various other fifty percent. That is not exactly how company functions nowadays.

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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 an unjustified comment from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I wish to be accountable in this problem of undocumented workers. I want to admit that we just have anecdotal details, but I want to ask you to what degree you need to go or do most likely to see to it that the facilities make certain that the financial investments do not create jobs for people below illegally.


Mr. Stenger. Legislator, I am a hands-on proprietor of a service, and I am on-property every solitary day. We have worked with-- as I claimed, at the Optimal we had 550 building employees on our job. The marching orders that I offered to my team is that we are to hire neighborhood companies in almost every instance to do every one of the building.


They are comprised of 10, 15, 20, 30 staff members. They are from our regional counties. They are Vermonters. They are here profiting straight from the investment. So we are a hands-on center. I understand the employees, I understand their families, and we have been able to employ-- through these last 3 years of horrible financial turmoil, we have actually been able to use virtually every building and construction employee in our area and the surrounding areas.

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locals. They live in the location. Their families exist. They are purchased the neighborhoods, and they are all U.S. workers. Legislator Grassley. You do not need to use e-verify, yet I wish to know whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the very same lines of the inquiry I asked him, has your research revealed examples various other-- and I just provided one instance, so I want to confess that and be accountable regarding it-- of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.




This is a negative application." So there is a quantity of bad applications out there, however only when that process gets prior to a management legislation judge do we see much in the way of information. Now, there was one instance that you mentioned, and let me simply clarify on that particular a little.

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Do not take also long because I wish to ask an additional couple inquiries. Go in advance and swiftly surface. Mr. North. The dairy products farm had asserted 17 workers, and they obtained 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 separate questions of each of the three of you, yet it deals with this set problem. As I claimed in my opening declaration, I am worried regarding the potential technicality that allows capitalists to withdraw their investment in local centers after getting their copyright.


Mr. Divine. I would state that many of the capitalists, if you asked them what are their objectives, they would certainly say, "I want to obtain an eco-friendly card, and I desire to maintain it.


Mr. Divine. Let me ask Mr. Stenger, is it usual for an investor in your experience to withdraw his or her financial investment instantly after obtaining an eco-friendly card? Mr.


Senator, no.