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The legislation 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 question: Have you done any research on just how much cash stays past the 2 years? And the solution was no


Legislator Grassley. Thank you, Mr. Chairman. I would certainly such as to have a second round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the cash just has to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed into a resort, as I was starting to clarify earlier, the programmer of that project would certainly need to be able to discover somebody to acquire the hotel or would have to be able to locate someone to re-finance it with other money.






It is not any type of simpler always than when it remained in the conditions that caused the foreign investors being the ideal alternative for funding things in the initial place. Hi there, if it is a successful job, it makes cash, and it can be marketed, I do not see any kind of reason why the job must not be able to be sold and for the financier to be able to understand the return of his investment, perhaps acquire on his financial investment, simply like every other investor.

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If you have a project that is funded straight through the Immigrant Capitalist Program and it is believed to be utilizing undocumented employees, Migration and Customs Enforcement could explore the company, could they not? Mr. Divine.


Mr. Divine. Every one of these employers is required to finish the I-9 form, yet USCIS goes an action even more and does a check of some kind that led to the situation that has actually been mentioned. I am not a witness below, yet I am so struck by Mr.

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I see this here mean, Imply recommend that all of you actually-- Mr. North, in your case, situation out obtain inside the Beltway and go up there and talk with speak of these people.


They will certainly state, "We have obtained regarding 9 people here, and we have been below given that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what a prohibited immigrant might be stating. As a matter of fact, I believe Mr. Stenger would claim that one of his British investors was believing, "Are all of us talking the very same language right here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former agency authorities. What does it do if Congress maintains running up against a final reauthorization? In this instance it would certainly be, I assume, September of next year, September of 2012. What does that do to a company trying to carry out a program if Congress waits up until the last few days to reauthorize it? What is the practical result? Mr.

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I indicate, the firm essentially is-- USCIS is a fee-funded company, so it is basically kind reference of running a company and has to cover its expenditures with the income that is created. To run this program appropriately, USCIS needs to staff up in a large method, managing the volume that is currently there and preparing for the raised volume of more investment as we get back at close to fifty percent of the 10,000 visas that are readily available in this group.

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I indicate, that has reached feel like a clashing circumstance, and you 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 sure they believe and hope that the program will be reauthorized for the advantage of the Country.


And is that really where they are going to be able to invest their time and resources in trying to clear the rules of this program to make sure that everybody knows whether they can certify or not and which kinds of tasks are going to certify and so forth? We need that constantly.


And, Mr. Stenger, we in Vermont-- once more, a small State, but we have the State federal government included useful content with the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional center administrator, and in fact I think you would call it the owner of the regional center, has been a tremendous advantage.