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The regulation claims you have actually obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences put on by USCIS, I asked an inquiry: Have you done any kind of study on just how much money remains beyond the 2 years? And the solution was no


Senator Grassley. Thanks, Mr. Chairman. I would love to have a second round. Chairman Leahy. Certainly. Allow me just ask, Mr. Divine, you hear this objection that the cash just has to stay spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was starting to clarify earlier, the developer of that task would need to be able to find someone to acquire the resort or would have to be able to find someone to re-finance it with other money.






It is none less complicated necessarily than when it was in the problems that resulted in the international financiers being the best choice for financing things to begin with. But, hello, if it is an effective job, it earns money, and it can be offered, I do not see any kind of factor why the job should not be able to be marketed and for the financier to be able to understand the return of his financial investment, perhaps obtain on his investment, much like every other investor.

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If you have a project that is funded straight with the Immigrant Financier Program and it is believed to be employing undocumented employees, Immigration and Traditions Enforcement could check out the employer, could they not? Mr. Divine. They could. I imply, I assume what we require to realize additionally is that the situation that is being cited as proof that often these projects have actually hired an unapproved employee is one in which USCIS did some kind of monitoring and identified that the employee was not licensed and stopped it.


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


I imply, I suggest that every one of you really-- Mr. North, in your instance, get out from inside the Beltway and increase there and chat with some of these people. For one point, you do not have way too many illegal immigrants who rather have the Vermont accent you hear around there, specifically when they talk regarding their grandparents that live there, and moms and dads and so on.


They will certainly state, "We have actually got about 9 of us below, and we have been below because 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not fairly what an illegal alien could be saying. I assume Mr. Stenger would state that one of his British capitalists was thinking, "Are we all speaking the very 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 keeps running up versus 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 trying to administer a program if Congress waits up until the last couple of days to reauthorize it? What is the practical effect? Mr.

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I This Site suggest, the firm basically is-- USCIS is a fee-funded agency, so it is basically type of running a company and has to cover its costs with the income that is produced. To run this program properly, go to website USCIS needs to staff up in a big way, handling the quantity that is already there and anticipating the enhanced quantity of more financial investment as we get back at near to half of the 10,000 visas that are available in this category.

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I suggest, that has got to feel like a clashing scenario, and you would certainly think of that it is mosting likely to hold someone back. Currently, I am not claiming that they are keeping back, and I recognize that they are attempting to staff up because I make sure they believe 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 resources in attempting to clear the regulations of this program to make sure that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify and so forth? We need that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a small State, yet we have the State federal government included with the Vermont Regional Center. Does that include benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional facility manager, and really I think you would call it the proprietor of the local navigate to these guys center, has been a tremendous advantage.