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The regulation says you have actually got 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 research on just how much money stays beyond the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I want to have a second round. Chairman Leahy. Definitely. Let me just ask, Mr. Divine, you hear this criticism that the money only needs to remain spent for 2 years. Has that been your experience? Mr. Divine. If cash gets put right into a resort, as I was starting to describe earlier, the programmer of that task would certainly need to be able to find someone to get the hotel or would certainly need to have the ability to find someone to re-finance it with other money.






It is none simpler always than when it remained in the conditions that caused the foreign investors being the very best alternative for financing things in the initial location. But, hi there, if it is an effective task, it generates income, and it can be marketed, I do not see any type of reason why the job should not be able to be offered and for the investor to be able to understand the return of his investment, possibly gain on his financial investment, similar to every various other capitalist.

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If you have a project that is funded straight with the Immigrant Financier Program and it is believed to be using undocumented workers, Migration and Customs Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the very same with any business. Mr. Divine. Every one of these companies is needed to finish the I-9 form, however USCIS goes an action additionally and does a check of some kind that caused the case that has been stated. Chairman Leahy. I am not a witness here, however I am so struck by Mr.


I mean, I suggest that every one of you actually-- Mr. North, in your situation, venture out from inside the Beltway and go up there and chat with some of these people. For one point, you do not have too numerous illegal aliens that fairly have the Vermont accent you hear around there, particularly when they speak about their grandparents who live there, and parents and so on.


They will certainly say, "We have got concerning 9 of us right here, and we have been here because 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal immigrant may be saying. I think Mr. Stenger would certainly claim that one of his British capitalists was thinking, "Are we all speaking the same read this language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former company official. What does it do if Congress maintains tasting a final reauthorization? In this case it would be, I assume, September of following year, September of 2012. What does that look at more info do to an agency trying to administer a program if Congress waits until the last few days to reauthorize it? What is the sensible result? Mr.

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I imply, the agency basically is-- USCIS is a fee-funded firm, so it is essentially sort of running a company and has to cover its expenses with the income that is produced. To run this program appropriately, USCIS requires to staff up in a big way, managing the volume that is currently there and expecting the raised volume of more financial investment as we get also close to fifty percent of the 10,000 visas that are offered in this group.

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I mean, that has actually got to seem like a clashing circumstance, and you would certainly picture 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 make certain they think and wish that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are mosting likely to have the ability to invest their time and resources in trying to clear straight from the source the guidelines of this program to ensure that everybody recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to qualify and so forth? We require that constantly.


And, Mr. Stenger, we in Vermont-- again, a small State, yet we have the State federal government entailed with the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional facility manager, and really I guess you would call it the proprietor of the regional center, has actually been a significant advantage.