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The legislation claims you have obtained to spend 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 study on just how much cash remains past the 2 years? And the response was no


Legislator Grassley. Thank you, Mr. Chairman. I would like to have a second round. Chairman Leahy. Absolutely. Let me just ask, Mr. Divine, you hear this criticism that the cash just needs to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a hotel, as I was starting to explain earlier, the developer of that project would have to be able to discover somebody to acquire the resort or would certainly need to be able to find someone to refinance it with various other cash.






It is not any simpler necessarily than when it remained in the conditions that brought about the foreign investors being the ideal choice for funding the thing in the first location. Hello, if it is a successful task, it makes money, and it can be marketed, I do not see any type of reason why the task must not be able to be sold and for the investor to be able to recognize the return of his investment, possibly get on his investment, simply like every other financier.

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If you have a task that is funded directly via the Immigrant Financier Program and it is thought to be utilizing undocumented workers, Migration and Traditions Enforcement could examine the employer, could they not? Mr. Divine. They could. I indicate, I believe what we require to recognize also is that the case that is being cited as proof that often these projects have actually employed an unapproved worker is one in which USCIS did some sort of checking and figured out that the worker was not accredited and stopped it.


Chairman Leahy. That would be the same with any company. Mr. Divine. Every one of these employers is required to finish the I-9 type, yet USCIS goes an action better and does a check of some kind that resulted in the case that has been pointed out. Chairman Leahy. I am not a witness below, however I am so struck by Mr.


I indicate, I suggest that every one of you really-- Mr. North, in your case, venture out from inside the Beltway and increase there and speak with a few of these individuals. For something, you do not have a lot of illegal immigrants that fairly have the Vermont accent you hear around there, specifically when they speak about their grandparents that live there, and parents and so forth.


They will certainly state, "We have obtained about nine people right here, and we have been here given that 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not fairly what an illegal alien could be saying. I believe Mr. Stenger would certainly state that one of his British financiers was assuming, "Are we all speaking the very same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former firm official. What does it do if Congress maintains tasting a final reauthorization? In this situation 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 up until the last couple of days to reauthorize it? What is the useful impact? Mr.

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I imply, the company essentially is-- USCIS is a fee-funded company, so it is basically sort of running a service and has to cover its costs with the revenue that is generated. To run this program properly, USCIS requires to staff up in a large method, managing the quantity that is currently there and expecting the boosted volume of more investment as we get back at near fifty percent of the 10,000 visas that are offered in this classification.

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I mean, that has got to feel like a clashing scenario, and you would certainly picture that it is going to hold somebody back. Currently, I am not claiming 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 check here Nation.


And is that truly where they are mosting likely to be able to spend their time and resources in attempting to clear the policies of this program to make sure that everybody knows whether they can certify or not and which kinds of jobs are going to certify etc? We require that consistently.


And, Mr. Stenger, we in Vermont-- again, a little State, but we have the State federal government included with the Vermont Regional. Mr. Stenger.