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The legislation states you have 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 a concern: Have you done any type of research study on just how much cash remains past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Absolutely. Let me just ask, Mr. Divine, you hear this criticism that the cash only has to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a resort, as I was starting to clarify earlier, the programmer of that project would certainly need to have the ability to discover somebody to get the hotel or would need to have the ability to locate someone to re-finance it with other money.






It is not any easier always than when it was in the conditions that brought about the foreign investors being the ideal choice for funding things in the first area. However, hi there, if it is a successful task, it generates income, and it can be marketed, I do not see any type of reason the job need to not be able to be sold and for the capitalist to be able to recognize the return of his financial investment, perhaps acquire on his financial investment, similar to every various other investor.

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If you have a job that is moneyed straight with the Immigrant Financier Program and it is believed to be using undocumented employees, Immigration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I believe what we require to understand additionally is that the case that is being cited as proof that often these jobs have actually employed an unauthorized employee is one in which USCIS did some type of monitoring and identified that the worker was not authorized and stopped it.


Chairman Leahy. But that would certainly coincide with any firm. Mr. Divine. Every one of these companies is required to finish the I-9 kind, try this site but USCIS goes a step better and does a check of some kind that brought about the case that has actually been mentioned. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I indicate, I recommend that every one of you in fact-- Mr. North, in your case, venture out from inside the Beltway and go up there and speak with several of these individuals. For something, you do not have as well many illegal aliens who quite have the Vermont accent you hear around there, particularly when they speak about their grandparents who live there, and moms and dads and so on.


They will certainly say, "We have actually got about 9 of us right here, and we have actually been below since 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal alien may be claiming. As a matter of fact, I believe Mr. Stenger would claim that of his British financiers was assuming, "Are we all speaking the exact same 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 meeting a last-minute reauthorization? In this case it would be, I think, September of following year, September of 2012. What does that do to a company attempting to carry out a program if Congress waits till the last couple of days to reauthorize it? What is the functional result? Mr.

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I mean, the company basically is-- USCIS is a fee-funded company, so it is essentially kind of running an organization and has to cover its expenditures with the earnings that click to investigate is generated. To run this program appropriately, USCIS needs to staff up in a large way, taking care of the volume that is currently there and preparing for the boosted volume of even more investment as we obtain also near fifty percent of the 10,000 visas that are available in this category.

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I indicate, that has reached seem like a conflicting situation, and you would certainly imagine that it is mosting likely to hold somebody back. Now, I am not claiming that they are keeping back, and I understand that they are trying to staff up because I am certain they think and really hope that the program will certainly be reauthorized for the benefit of the Country.


And is that truly where they are going to have the ability to spend their time and resources in trying to improve the rules of this program so that everyone knows whether they can qualify or not and which type of jobs are going to certify etc? We need that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a small State, but we have the State government involved with the Vermont Regional Facility. Does that include advantages to Vermont's program? Mr. Stenger. The reality that the State This Site of Vermont is the local center administrator, and really I think you would certainly call it the proprietor of the regional center, has been an incredible benefit.