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And I have been pleased to satisfy them and pleased to invite them. Chairman Leahy. As my last concern, in some of the testimony this morning there has been a pointer that, of training course, simply with all the hundreds of billions, trillions of bucks prepared to invest, you need to simply go someplace else.
I can have obtained fifty percent of that if I had the $12 million in cash to put up. Every person knows that, yes, financial institutions have cash to car loan as long as you have got half of it in your pocket prior to you request the other fifty percent. That is not just how organization works nowadays.
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You are speaking from a real-world experience, not from a brain trust experience. I will certainly leave that just as an unjustified comment from the Chairman. Senator Grassley. Senator Grassley. Thank you. I want to be liable in this issue of undocumented workers. I desire to confess that we only have unscientific information, yet I want to ask you to what degree you have to go or do most likely to make sure that the centers make certain that the investments do not produce tasks for individuals right here unlawfully.
Mr. Stenger. Legislator, I am a hands-on owner of a company, and I am on-property every single day. We have employed-- as I claimed, at the Peak we had 550 building and construction employees on our project. The marching orders that I offered to my group is that we are to employ local firms in virtually every instance to do all of the building and construction.
They are made up of 10, 15, 20, 30 staff members. They are benefiting straight from the investment. I recognize more info the workers, I understand their family members, and we have been able to employ-- with these last 3 years of awful economic turmoil, we have been able to utilize almost every building worker in our county and the bordering areas.
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residents. They stay in the location. Their family members are there. They are spent in the areas, and they are all U.S. employees. Legislator Grassley. You do not have to use e-verify, however I would love to know whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.
Mr. North, along the same lines of the question I asked him, has your research shown instances various other-- and I just gave one example, so I desire to admit that and be accountable about it-- of centers hiring undocumented people? Mr. EB5 Regional Center Program. North.
This is a poor application." So there is a quantity of poor applications available, however just once that procedure obtains prior to an administrative law judge do we see a lot in the method of information. Currently, there was one instance that you discussed, and let me simply clarify on that particular a bit.
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Do not take too long since I intend to ask another pair questions. Yet go on and promptly surface. Mr. North. The milk ranch had declared 17 workers, and they entered it, and the judge located that 16 of them were illegals. Currently, that is the one instance I have, and it is an excellent instance.
Okay. I am mosting likely to ask different concerns of each of the 3 of you, yet it takes care of this one problem. As I stated in my opening statement, I am worried regarding the potential loophole that allows financiers to withdraw their investment in regional centers after receiving their environment-friendly card.
Mr. Divine. I would certainly state that many of the financiers, if you asked them what are their goals, they would state, "I desire to obtain an eco-friendly card, and I desire to maintain it.
Senator, no.