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The regulation claims you have obtained to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked a question: Have you done any research on how much cash stays beyond the 2 years? And the answer was no


Legislator Grassley. Thanks, Mr. Chairman. I would such as to have a second round. Chairman Leahy. Absolutely. Let me simply ask, Mr. Divine, you hear this objection that the cash just has actually to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a hotel, as I was starting to explain earlier, the developer of that task would certainly need to be able to find somebody to get the resort or would have to have the ability to discover somebody to refinance it with various other cash.






It is none much easier necessarily than when it remained in the problems that caused the foreign investors being the most effective alternative for funding the important things to begin with. Hey, if it is an effective project, it makes cash, and it can be sold, I do not see any kind of reason why the task ought to not be able to be marketed and for the financier to be able to realize the return of his financial investment, perhaps acquire on his financial investment, just like every various other financier.

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If you have a project that is moneyed straight with the Immigrant Capitalist Program and it is thought to be using undocumented employees, Immigration and Customs Enforcement could explore the company, could they not? Mr. Divine. They could. I imply, I believe what we require to recognize also is that the instance that is being pointed out as evidence that in some cases these projects have actually hired an unapproved worker is one in which USCIS did some kind of monitoring and established that the employee was not accredited and quit it.


Chairman Leahy. But that would be the exact same with any type of business. Mr. Divine. Each of these employers is required to complete the I-9 type, however USCIS goes a step better and does a check of some kind that led to the instance that has actually been pointed out. Chairman Leahy. EB5 Regional Center Program I am not a witness right here, yet I am so struck by Mr.


I imply, I advise that all of you in fact-- Mr. North, in your situation, obtain out from inside the Beltway and go up there and talk with some of these people. For something, you do not have way too many unlawful immigrants who rather have the Vermont accent you hear around there, particularly when they talk regarding their grandparents who live there, and parents and more.


They will certainly say, "We have got concerning 9 of us right here, and we have been below given that 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal alien may be stating. I assume Mr. Stenger would claim that one of his British capitalists was believing, "Are we all speaking the very same language below?" 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 keeps tasting a last-minute reauthorization? In this case it would certainly be, I assume, September of next year, September of 2012. What does that do to an agency attempting to carry out a program if Congress waits till the last couple of days to reauthorize it? What is the sensible result? Mr.

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I mean, the agency effectively is-- USCIS is a fee-funded company, so it is basically sort of running a company and has to cover its costs with the income that is generated. To run this program correctly, USCIS needs to staff up in a huge method, dealing with the volume that is currently there and preparing for the increased volume of more financial investment as we get back at near fifty percent of the 10,000 visas that are available in this classification.

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I imply, that has reached feel like a clashing situation, and you would envision that it is mosting likely to hold someone back. Currently, I am not stating that they are holding back, and I know that they are trying to staff up because I am sure they think and really hope that the program will be reauthorized for the advantage of the Nation.


And is that actually where they are mosting likely to be able to invest their time and sources in attempting to improve the policies of this program to make sure that everybody understands whether they can certify or otherwise and which sort of jobs are going to certify and so forth? We need that continuously.


And, Mr. Stenger, we in Vermont-- once more, a tiny State, yet we have the State federal government entailed with the Vermont Regional. Mr. Stenger.