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The regulation says you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any study on just how much cash stays beyond the 2 years? And the response was no


Senator Grassley. Thanks, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. . Allow me simply ask, Mr. Divine, you hear this criticism that the cash just needs to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If cash gets placed right into a resort, as I was starting to explain earlier, the designer of that task would certainly need to have the ability to locate somebody to purchase the resort or would need to have the ability to discover someone to refinance it with other cash.






It is not any much easier necessarily than when it was in the problems that brought about the international financiers being the ideal alternative for financing the important things to begin with. However, hi there, if it is a successful job, it makes cash, and it can be sold, I do not see any type of reason the project need to not be able to be offered and for the investor to be able to recognize the return of his investment, maybe gain on his financial investment, just like every various other capitalist.

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If you have a job that is moneyed straight through the Immigrant Financier Program and it is thought to be employing undocumented workers, Immigration and Traditions Enforcement could investigate the employer, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is called for to complete the I-9 type, yet USCIS goes a step better and does a check of some kind that led to the instance that has actually been mentioned. I am not a witness here, however I am so struck by Mr.

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I mean, Imply recommend that suggest of you actually-- In fact North, in your case, get out from inside the Beltway and go up there and talk with some of these people.


They will state, "We have actually got concerning nine people below, and we have actually been right here since 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant could be claiming. In fact, I believe Mr. Stenger would claim that of his British investors was believing, "Are all of us talking the same language here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a previous firm authorities. What does it do if Congress maintains running up against a last-minute reauthorization? In this situation it would be, I believe, September of following year, September of 2012. What does that do to a company attempting to carry out a program if Congress waits till the last couple of days to reauthorize it? What is the useful impact? Mr.

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I indicate, the agency essentially is-- USCIS is a fee-funded firm, so it is essentially type of running an organization and needs to cover its costs with the revenue that is produced. To run this program appropriately, USCIS needs to staff up in a big means, taking more info care of the quantity that is currently there and expecting the increased volume of even more financial investment as we get back at near to fifty percent of the 10,000 visas that are available in this category.

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I imply, that has reached really feel like a contrasting circumstance, and you would picture that it is mosting likely to hold someone back. Now, I am not claiming that they are keeping back, and I recognize that they are attempting to staff up since I make certain they think and wish that the program will certainly be reauthorized for the benefit of the Nation.


And is that really where they are mosting likely to be able to invest their time and resources in trying to clear the guidelines of this program so that everybody knows whether they can qualify or not and which sort of projects are mosting likely to qualify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- once again, a small State, but we have the State government involved with the Vermont Regional. Mr. Stenger.