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The legislation says you have actually obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked a question: Have you done any type of research study on just how much cash remains past the 2 years? And the response was no


Legislator Grassley. Thank you, Mr. Chairman. I would love to have a second round. Chairman Leahy. Absolutely. Let me simply ask, Mr. Divine, you hear this objection that the cash only has to remain spent for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a hotel, as I was beginning to discuss earlier, the programmer of that project would have to be able to find someone to get the hotel or would have to have the ability to find somebody to re-finance it with various other cash.






It is not any easier necessarily than when it was in the conditions that led to the international capitalists being the most effective alternative for financing the point to begin with. Hello, if it is an effective job, it makes money, and it can be sold, I do not see any kind of factor why the project must not be able to be marketed and for the investor to be able to recognize the return of his financial investment, possibly gain on his investment, just like every other capitalist.

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If you have a project that is moneyed directly with the Immigrant Capitalist Program and it is thought to be utilizing undocumented workers, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I believe what we require to recognize also is that the instance that is being cited as proof that sometimes these tasks have worked with an unauthorized employee is one in which USCIS did some type of checking and established that the employee was not authorized and stopped it.


Chairman Leahy. But that would be the same with any business. Mr. Divine. Each of these companies is required to finish the I-9 kind, but USCIS goes an action even more and does a check of some kind that led to the situation that has actually been mentioned. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I suggest, I suggest that every one of you in fact-- Mr. North, website in your case, get out from inside the Beltway and rise there and speak with some of these people. For something, you do not have way too many unlawful immigrants that rather have the Vermont accent you listen to around there, especially when they discuss their grandparents that live there, and moms and dads and so on.


They will claim, "We have obtained about 9 people here, and we have actually been here since 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal immigrant could be saying. I think Mr. Stenger would certainly claim that one of his British investors was believing, "Are we all talking the same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous agency official. What does it do if Congress maintains meeting a last-minute reauthorization? In this situation it would certainly be, I think, September of next year, September of 2012. What does that do to a company attempting to provide a program if Congress waits till the last few days to reauthorize it? What is the functional result? Mr.

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I imply, the company essentially is-- USCIS is a fee-funded agency, so it is essentially kind of running a company and has to cover its expenses with the income that is generated. To run this program appropriately, USCIS requires to staff up in a large means, managing the quantity that is currently there and expecting the increased quantity of even more financial investment as we get even close to fifty percent of the 10,000 visas that are offered in this group.

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I indicate, that has actually reached seem like a conflicting circumstance, and you would certainly imagine that it is going to hold someone back. Currently, I am not claiming that they are holding back, and I know that they are trying to staff up because I am certain they think and hope that the program will be reauthorized for the benefit of the Nation.


And is that really where they are going to be able to invest their time and sources in trying to clean up the rules of this program to make sure that everybody knows whether they can certify or otherwise and which kinds of projects are mosting likely to certify and so forth? We require that consistently.


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