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The regulation claims 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 type of research on exactly how much cash stays past the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I want to have a second round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the cash just has to remain invested for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a resort, as I was starting to explain earlier, the developer of that job would have to have the ability to locate someone to buy the hotel or would have to be able to find someone to re-finance it with other money.






It is none simpler necessarily than when it was in the problems that brought about the foreign investors being the most effective alternative for funding things in the initial location. But, hi there, if it is an effective project, it earns money, and it can be sold, I do not see any kind of reason the project must not be able to be marketed and for the investor to be able to understand the return of his financial investment, maybe get on his investment, similar to every various other investor.

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If you have a project that is moneyed straight with the Immigrant Financier Program and it is believed to be utilizing undocumented employees, Immigration and Customs Enforcement could explore the employer, could they not? Mr. Divine. They could. I imply, I assume what we require to realize additionally is that the instance that is being pointed out as evidence that in some cases these jobs have hired an unapproved employee is one in which USCIS did some type of checking and identified that the employee was not accredited and stopped it.


Mr. Divine. Every one of discover this these employers is needed to finish the I-9 type, yet USCIS goes a step even more and does a check of some kind that led to the situation that has actually been pointed out. I am not a witness below, yet I am so struck by Mr.

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I mean, Imply recommend that all of you actually-- Mr. North, in your case, get out from inside the Beltway and go up there and talk with chat of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in company is-- USCIS is a fee-funded agency, firm it is essentially kind of running a business and service to cover its expenses with the income that revenue generated. To run this program correctly, USCIS requires to staff up in a big way, dealing with the quantity that is already there and preparing for the enhanced quantity 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 indicate, that has reached really feel like a contrasting situation, and you would think of that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I understand that they are attempting to staff up due to the fact that I make certain they believe and hope that the program will be reauthorized for you can look here the benefit of the Nation.


And is that truly where they are mosting likely to have the ability to spend their time and resources in trying to clean up the policies of this program to make sure that everybody knows whether they can qualify or not and which kinds of jobs are going to qualify and so forth? We need that continually.


And, Mr. Stenger, we in Vermont-- again, a little State, yet we have the State government entailed with click for source the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center manager, and actually I think you would certainly call it the owner of the regional center, has been a significant advantage.