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The law states you have obtained to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings put on by USCIS, I asked a concern: Have you done any kind of research on just how much cash remains beyond the 2 years? And the response was no


Senator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a second round. Chairman Leahy. Definitely. Allow me just ask, Mr. Divine, you hear this criticism that the cash just needs to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a hotel, as I was beginning to explain earlier, the designer of that task would need to have the ability to locate someone to purchase the resort or would certainly have to have the ability to find somebody to re-finance it with other money.






It is not any easier always than when it remained in the conditions that led to the foreign financiers being the very best alternative for funding the point to begin with. Hello, if it is an effective project, it makes cash, and it can be marketed, I do not see any type of reason why the job should not be able to be sold and for the capitalist to be able to recognize the return of his investment, maybe get on his investment, just like every other capitalist.

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If you have a job that is moneyed straight with the Immigrant Capitalist Program and it is thought to be using undocumented workers, Immigration and Customs Enforcement could examine the employer, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is called for to finish the I-9 type, yet USCIS goes a step even more and does a check of some kind that led to the case that has been discussed. I am not a witness below, but I am so struck by Mr.

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I mean, Suggest recommend that all of you actually-- Really North, in your case, get out obtain inside the Beltway and go up there and talk with speak of these people.


They will state, "We have got regarding 9 people here, and we have actually been here considering that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what a prohibited immigrant could be saying. As a matter of fact, I think click here Mr. Stenger would say that one of his British capitalists was assuming, "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 previous firm official. What does it do if Congress keeps running up against a last-minute reauthorization? In this instance it would be, I think, September of next year, September of 2012. What does that do to an agency attempting to carry out a program if Congress waits up until the last couple of days to reauthorize it? What is the sensible effect? Mr.

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I indicate, the firm essentially is-- USCIS is a fee-funded agency, so it is basically type of running an organization and needs to cover its expenditures with the earnings that is generated. To run this program appropriately, USCIS needs to staff up in a big means, dealing with the quantity that is already there and expecting the increased volume of more investment as we get back at near half of the 10,000 visas that are available in this category.

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I suggest, that has actually obtained to really feel like a clashing circumstance, and you would think of that it is going to hold somebody back. Currently, I am not saying that they are keeping back, and I know that they are attempting to staff up since I am sure they believe and really hope that the program will be reauthorized for the benefit of the Country.


And is that truly where they are going to have the ability to invest their time and sources in trying to clean up the regulations of this program to make sure that everybody knows whether they can qualify or otherwise and which kinds of jobs are going to certify etc? We require that constantly.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once again, a little State, yet we have the State government included with the Vermont Regional Facility. Does that add advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local facility manager, and in fact I think you would call it the owner of the local center, has been an incredible benefit.