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And I have been pleased to fulfill them and happy to welcome them. Chairman Leahy. As my last inquiry, in some of the statement this morning there has been a recommendation that, of program, simply with all the hundreds of billions, trillions of bucks prepared to spend, you need to simply go someplace else.


Stenger. I would certainly tell you that in this climate the ability to raise capital for things we are doing would certainly have-- it is impossible to do so in a manner that would permit us as properly and as swiftly create the things we have done. You can obtain cash if you have actually got 50 percent down.


I can have borrowed fifty percent of that if I had the $12 million in cash money to set up. Everyone recognizes that, yes, financial institutions have money to financing as long as you have actually obtained half of it in your pocket prior to you ask for the various other fifty percent. That is not how business works nowadays.

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You are speaking from a real-world experience, not from a brain trust experience. I will certainly leave that just as an unjustified comment from the Chairman. Legislator Grassley. Senator Grassley. Thank you. I intend to be accountable in this issue of undocumented workers. I desire to admit that we just have anecdotal info, yet I would like to ask you to what level you have to go or do go to make certain that the facilities make certain that the financial investments do not produce tasks for individuals below illegally.


Mr. Stenger. Legislator, I am a hands-on owner of an organization, and I am on-property each and every single day. We have hired-- as I claimed, at the Optimal we had 550 construction workers on our job. The marching orders that I provided to my team is that we are to work with neighborhood firms in almost every instance to do all of the construction.


They are made up of 10, 15, 20, 30 staff members. They are benefiting directly from the investment. I recognize click here the employees, I know their families, and we have actually been able to utilize-- with these last 3 years of horrible financial chaos, we have been able to employ almost every construction worker in our area and the bordering counties.

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They are invested in the neighborhoods, and they are all U.S. workers. Senator Grassley. Mr. Stenger.


Mr. North, along the same lines of the concern I asked him, has your research study shown instances other-- and I only gave one example, so I want to confess that and be liable concerning it-- of facilities working with undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." There is an amount of poor applications out there, but only when that procedure gets before a management regulation judge do we see much in the way of detail. Now, there was one case that you discussed, and allow me just elaborate on that particular a bit.

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


Okay. I am mosting likely to ask different inquiries of each of the three of you, but it takes care of this set problem. As I stated in my opening declaration, I am concerned concerning the potential technicality that enables financiers to withdraw their investment in local centers after obtaining their eco-friendly card.


Mr. Divine. I would certainly state that most of the investors, if you asked them what are their objectives, they would claim, "I want to obtain an environment-friendly card, and I want to maintain it.


Mr. Divine. Allow me ask Mr. Stenger, is it typical for an investor in your experience to withdraw his or her investment promptly after getting a copyright? Mr.


Senator, legislator.