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Yet the regulation claims you have actually obtained to invest for 2 years which is all. Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any kind of research on just how much cash remains past the 2 years? And the response was no


Senator Grassley. Thanks, Mr. Chairman. I would certainly like to have a 2nd round. Chairman Leahy. Absolutely. Allow me just ask, Mr. Divine, you hear this objection that the money just needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a resort, as I was beginning to clarify earlier, the developer of that project would have to have the ability to locate someone to purchase the hotel or would have to have the ability to discover someone to refinance it with other cash.






It is not any simpler always than when it was in the conditions that led to the foreign financiers being the very best choice for funding things in the initial place. But, hey, if it is an effective project, it earns money, and it can be sold, I do not see any kind of reason why the task need to not have the ability to be sold and for the capitalist to be able to recognize the return of his financial investment, possibly get on his investment, much like every other investor.

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If you have a project that is funded directly with the Immigrant Capitalist Program and it is thought to be employing undocumented workers, Immigration and Customs Enforcement could check out the company, could they not? Mr. Divine. They could. I mean, I assume what we need to realize likewise is that the case that is being cited as evidence that in some cases these jobs have hired an unapproved employee is one in which USCIS did some kind of monitoring and figured out that the worker was not accredited and quit it.


Chairman Leahy. Yet that would coincide with any firm. Mr. Divine. Every one of these employers is needed to finish the I-9 kind, but USCIS goes an action further and does a check of some kind that led to the case that has been mentioned. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I imply, I advise that all of you really-- Mr. North, in your case, go out from inside the Beltway and rise there and speak with a few of these people. For one point, you do not have as well many illegal aliens who quite have the Vermont accent you hear around there, especially when they speak concerning their grandparents that live there, and parents and so forth.


They will state, "We have obtained about nine of us right here, and we have been below considering that 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien could be claiming. I believe Mr. Stenger would certainly state that one of his British financiers was believing, "Are we all talking the very same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former firm authorities. What does it do if Congress keeps meeting a last-minute reauthorization? In this case it would be, I assume, September of next year, September of 2012. What does that do to an agency trying to administer a program if Congress waits up until the last few days to reauthorize it? What is the functional result? Mr.

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I imply, the agency effectively is-- USCIS is a fee-funded firm, so it is basically kind of running a service and has to cover its expenditures with the revenue that is generated. To run this program correctly, USCIS requires to staff up in a huge means, taking care of the volume that is currently there and anticipating the raised volume of more financial investment as we get back at near fifty percent of the 10,000 visas that are offered in this group.

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I suggest, that has reached seem like a contrasting circumstance, and you would picture that it is going to hold somebody back. Now, I am not saying that they are holding back, and I recognize that they are trying to staff up because I make sure they think and really hope that the program will be reauthorized for the benefit of the Country.


And is that really where they are mosting likely to be able to invest their time and resources in attempting to get rid of up the guidelines of this program so that everyone understands whether they can qualify or otherwise and which sort of projects are mosting likely to certify and so forth? We require that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a small State, yet we have the State government click here included with the Vermont Regional Center. Does that include advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center manager, and actually I guess you would certainly call it the proprietor of the local center, has been a tremendous advantage.