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The law claims you have actually got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any type of research on just how much cash remains past the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a second round. Chairman Leahy. Certainly. Let me simply ask, Mr. Divine, you hear this objection that the money just needs to remain spent for 2 years. Has that been your experience? Mr. Divine. If money obtains put into a resort, as I was starting to discuss earlier, the programmer of that task would certainly need to have the ability to locate someone to purchase the hotel or would need to have the ability to locate somebody to re-finance it with other money.






It is not any kind of less complicated always than when it was in the problems that resulted in the foreign investors being the very best option for funding the thing to begin with. Hello, if it is an effective project, it makes cash, and it can be marketed, I do not see any factor why the project need to not be able to be marketed and for the capitalist to be able to understand the return of his investment, perhaps get on his financial investment, just like every various other financier.

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If you have a project that is funded straight via the Immigrant Financier Program and it is believed to be utilizing undocumented workers, Migration and Customs Enforcement could explore the company, could they not? Mr. Divine. They could. I mean, I think what we need to recognize also is that the situation that is being cited as proof that in some cases these projects have employed an unapproved employee is one in which USCIS did some type of checking and established that the worker was not licensed and stopped it.


Chairman Leahy. That would be the exact same with any kind of firm. Mr. Divine. Every one of these employers is needed to finish the I-9 form, however USCIS goes an action even more and does a check of some kind that led to the situation that has actually been discussed. Chairman Leahy. I am not a witness below, yet I am so struck by Mr.


I imply, I advise that every one of you actually-- Mr. North, in your case, venture out from inside the Beltway and go up there and talk with a few of these people. For one point, you do not have way too many illegal aliens that quite have the Vermont accent you listen to around there, especially when they speak about their grandparents that live there, and parents and so on.


They will state, "We have actually got about 9 of us here, and we have actually been right here since 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien may be stating. I believe Mr. Stenger would state that one of his British capitalists was thinking, "Are we all speaking the exact same language below?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former company authorities. What does it do if Congress keeps meeting a final reauthorization? In this case it would be, I think, September of next year, September of 2012. What does that do to an agency attempting to provide a program if Congress waits up until the last couple of days to reauthorize it? What is the functional impact? Mr.

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I imply, the agency essentially is-- USCIS is a fee-funded firm, so it is basically sort of running an organization and has to cover its expenses with the income that is produced. To run this program correctly, USCIS needs to staff up in a large means, dealing with the quantity that is currently there and anticipating the raised quantity of more investment as we obtain even close to half of the 10,000 visas that are readily available in this group.

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I indicate, that has actually reached feel like a contrasting situation, and you click here would visualize that it is going to hold somebody back. Now, I am not claiming that they are keeping back, and I know that they are trying to staff up since I make certain they think and wish that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are going to be able to invest their time and resources in attempting to clean up the guidelines of this program to make sure that everybody knows whether they can qualify or otherwise and which kinds of projects are going to qualify and so forth? We need that continuously.


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 Center. Does that add benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local center administrator, and in fact I think you would certainly call it the owner of the local center, has been an incredible benefit.