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The regulation claims you have actually obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked an inquiry: Have you done any kind of 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. Allow me just ask, Mr. Divine, you hear this criticism that the cash just has actually to remain invested for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a resort, as I was starting to describe earlier, the designer of that project would need to have the ability to discover somebody to purchase the hotel or would certainly need to have the ability to discover somebody to refinance it with various other cash.






It is not any type of less complicated necessarily than when it remained in the conditions that led to the international financiers being the most effective alternative for financing the point to begin with. Hello, if it is an effective project, it makes cash, and it can be sold, I do not see any type of factor why the project must not be able to be sold and for the financier to be able to realize the return of his investment, possibly gain on his financial investment, simply like every other capitalist.

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If you have a project that is funded straight through the Immigrant Investor Program and it is thought to be utilizing undocumented workers, Migration and Traditions Enforcement could examine the company, could they not? Mr. Divine. They could. I indicate, I believe what we require to recognize additionally is that the case that is being pointed out as evidence that sometimes these projects have actually hired an unapproved worker is one in which USCIS did some kind of monitoring and determined that the employee was not authorized and quit it.


Mr. Divine. Every one of these employers is needed 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 discussed. I am not a witness right here, yet I am so struck by Mr.

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I mean, Indicate recommend that suggest of you actually-- Really North, in your case, situation out from inside the Beltway and go up there and talk with some of these people.


They will say, "We have actually got about 9 of us below, and we have been below considering that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien may be saying. As a matter of fact, I believe Mr. Stenger would certainly state that of his British financiers was assuming, "Are all of us speaking the exact same language below?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a previous agency authorities. What does it do if Congress keeps tasting a last-minute reauthorization? In this case it would be, I assume, September of following year, September of 2012. What does that do to an agency trying to provide a program if Congress waits till the last couple of days to reauthorize it? What is the practical result? Mr.

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I indicate, the company in result is-- USCIS is a fee-funded firm, so it is basically sort of running a business and has to cover its expenses with the revenue that is created. To run this program appropriately, USCIS needs to staff up in a huge way, handling the volume that is already there and expecting the raised volume of more investment as we get back at close to fifty percent of the 10,000 visas that here are readily available in this group.

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I suggest, that has actually got to feel like a clashing scenario, and you would certainly picture that it is going to hold someone back. Currently, I am not stating that they are keeping back, and I recognize 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 have the ability to spend their time and sources in attempting to clear the regulations of this program to make sure that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify and so forth? We need that continuously.


And, Mr. Stenger, we in Vermont-- once again, a little State, yet we have the State federal government included with the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the local facility manager, and really I guess you would call it the proprietor of the regional center, has been a tremendous advantage.