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However the regulation says you have obtained to invest for 2 years which is all. Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any kind of study on how much cash stays beyond the 2 years? And the solution was no


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






It is none simpler always than when it remained in the conditions that led to the international investors being the finest alternative for financing the important things to begin with. Hello, if it is an effective job, it makes cash, and it can be sold, 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 realize the return of his financial investment, perhaps acquire on his investment, simply like every other financier.

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If you have a project that is moneyed straight via the Immigrant Financier Program and it is believed to be using undocumented employees, Immigration 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 type, but USCIS goes an action better and does a check of some kind that led to the situation that has been mentioned. I am not a witness right here, however I am so struck by Mr.

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


They will claim, "We have actually got regarding 9 people below, and we have been right here considering that 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not rather what an unlawful immigrant could be stating. Actually, I assume Mr. Stenger would state that a person of his British investors was believing, "Are most of us talking the same language right here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous agency official. What does it do if Congress keeps running up versus a last-minute reauthorization? In this situation it would certainly be, I think, September of website next year, September of 2012. What does that do to a firm attempting to administer a program if Congress waits up until the last couple of days to reauthorize it? What is the practical impact? Mr.

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I suggest, the company essentially is-- USCIS is a fee-funded agency, so it is basically type of running a company and needs to cover its expenditures with the earnings that is generated. To run this program correctly, USCIS requires to staff up in a huge method, taking care of the quantity that is currently there and expecting the enhanced volume of more investment as we get back at near to fifty percent of the 10,000 visas that are readily available in this classification.

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I mean, that has obtained to really feel like a contrasting circumstance, and you would visualize that it is going to hold someone back. Currently, I am not claiming that they are keeping back, and I understand that they are attempting to staff up because I make certain they believe and hope that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are going to be able to spend their time and resources in trying to improve the rules 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 require that constantly.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a small State, but we have the State government entailed with the Vermont Regional Center. Does that include advantages to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the local center manager, and in fact I think you would certainly call it the owner of the regional center, has been an incredible advantage.