This document provides summaries of various news articles related to the EB-5 visa program. The articles discuss an EB-5 project in Las Vegas that has lost over $80 million, an SEC accusation of fraud against an EB-5 regional center owner, the impact of a stock market drop in China on Asian EB-5 investors, and new FINRA disclosure rules for finder's fees paid to foreign agents.
The article discusses the EB-5 visa program which allows foreign citizens to obtain US permanent residency by investing $500,000 in projects that create at least 10 US jobs. It profiles a Dutch family that invested in a Marriott hotel project in Washington DC to obtain green cards. The program has grown significantly in recent years as it provides a source of financing for developers during economic downturns. However, some argue it amounts to "buying citizenship" and allows wealthy foreigners to bypass the regular visa process. The article provides statistics on the growth of the EB-5 program and examples of hotel industry projects that have benefited from EB-5 investments. It also discusses issues that have arisen, including fraud cases brought by the SEC
The SEC and USCIS took coordinated action to stop an EB-5 visa scheme committing fraud led by Anshoo Sethi and the Intercontinental Regional Center Trust of Chicago. The SEC alleges Sethi defrauded over 250 investors of over $145 million by making false claims about the proposed Chicago Convention Center project. Some false claims included having construction permits and hotel franchise agreements in place, an inflated $177 million valuation of the land, and exaggerated development costs and revenue projections. The actions aim to protect investors and stop the ongoing fraud.
This document provides an overview of EB-5 financing for educational facilities. It describes how EB-5 works, the top countries investing, and gives an example of how EB-5 could fund a new graduate program at a private university. EB-5 investments must create a minimum of 10 jobs per investor. For a $10 million graduate program, 24 EB-5 investors could provide $12 million in funding. It would take an estimated 12 months to raise the capital, get I-526 approvals, and release funds to the university.
The document provides an overview of the EB-5 visa program for foreign investors. Some key points:
- The EB-5 program allows foreign investors to obtain a green card by investing $500,000+ in job-creating business ventures in the US.
- Most investors come from China, followed by South Korea. The program creates over 10,000 jobs annually.
- Investors submit paperwork and, if approved, get a two-year conditional green card before removing conditions if jobs are maintained.
- The San Diego region is a top destination for EB-5 investments, with its industries in technology, life sciences, and clean tech.
This course provides an overview of industrial chemistry in the 21st century, focusing on feedstocks, building blocks, processes, and green chemistry approaches. The course examines traditional and renewable feedstocks like crude oil, natural gas, coal, and biomass. It explores primary and secondary chemical building blocks and selected industrial processes. The objectives are to understand the reasons for material, process, and trend choices from economic, political, social, and environmental perspectives. The influence of climate change on processes using renewable resources is also a topic of discussion.
The article discusses the EB-5 visa program which allows foreign citizens to obtain US permanent residency by investing $500,000 in projects that create at least 10 US jobs. It profiles a Dutch family that invested in a Marriott hotel project in Washington DC to obtain green cards. The program has grown significantly in recent years as it provides a source of financing for developers during economic downturns. However, some argue it amounts to "buying citizenship" and allows wealthy foreigners to bypass the regular visa process. The article provides statistics on the growth of the EB-5 program and examples of hotel industry projects that have benefited from EB-5 investments. It also discusses issues that have arisen, including fraud cases brought by the SEC
The SEC and USCIS took coordinated action to stop an EB-5 visa scheme committing fraud led by Anshoo Sethi and the Intercontinental Regional Center Trust of Chicago. The SEC alleges Sethi defrauded over 250 investors of over $145 million by making false claims about the proposed Chicago Convention Center project. Some false claims included having construction permits and hotel franchise agreements in place, an inflated $177 million valuation of the land, and exaggerated development costs and revenue projections. The actions aim to protect investors and stop the ongoing fraud.
This document provides an overview of EB-5 financing for educational facilities. It describes how EB-5 works, the top countries investing, and gives an example of how EB-5 could fund a new graduate program at a private university. EB-5 investments must create a minimum of 10 jobs per investor. For a $10 million graduate program, 24 EB-5 investors could provide $12 million in funding. It would take an estimated 12 months to raise the capital, get I-526 approvals, and release funds to the university.
The document provides an overview of the EB-5 visa program for foreign investors. Some key points:
- The EB-5 program allows foreign investors to obtain a green card by investing $500,000+ in job-creating business ventures in the US.
- Most investors come from China, followed by South Korea. The program creates over 10,000 jobs annually.
- Investors submit paperwork and, if approved, get a two-year conditional green card before removing conditions if jobs are maintained.
- The San Diego region is a top destination for EB-5 investments, with its industries in technology, life sciences, and clean tech.
This course provides an overview of industrial chemistry in the 21st century, focusing on feedstocks, building blocks, processes, and green chemistry approaches. The course examines traditional and renewable feedstocks like crude oil, natural gas, coal, and biomass. It explores primary and secondary chemical building blocks and selected industrial processes. The objectives are to understand the reasons for material, process, and trend choices from economic, political, social, and environmental perspectives. The influence of climate change on processes using renewable resources is also a topic of discussion.
1. The document evaluates the Operation Trumpet Call (OTC) project, a conservation agriculture project run by Tearfund and local churches in Zimbabwe. OTC promotes conservation agriculture techniques similar to other organizations but emphasizes time management principles. It also originally provided free inputs and organizes through local churches.
2. Farmers who adopted techniques through OTC reported increased maize yields averaging 717kg per farmer, sufficient for family consumption. Yields were 1.5-2.4 metric tons per hectare. However, conservation agriculture requires more labor than conventional farming. Increased production led to benefits like improved schooling and livestock.
3. While some farmers adopted conservation agriculture practices for all production, most use it on
Building Capability in an Innovative Way V3Alan Roy
This document provides an overview of GSK's approach to building Lean capabilities through role model leaders teaching and coaching. GSK developed a program where over 300 senior leaders taught and coached Lean thinking and practices to employees over a 3-week cycle. This helped embed Lean fundamentals as a way of life. The program resulted in unexpected benefits like improved relationships across the organization and better understanding of how to apply Lean tools. It also led to measurable impacts like reducing incident resolution times and staffing needs for computer support. Going forward, GSK aims to continue having senior leaders coach Lean and make it part of daily work.
O documento discute a importância do foco e como manter o foco em um mundo cheio de distrações. A dispersividade é definida como a tendência de fazer muitas coisas ao mesmo tempo sem terminar ou fazer bem nenhuma delas. O documento também discute como o foco é essencial para o sucesso e como treinar a atenção para combater as distrações modernas.
This study aimed to develop a standardized motor fitness test battery for identifying and selecting talent at the university level. Researchers initially identified 9 test items measuring 5 components of motor fitness. Through expert evaluation and focus groups, the tests were narrowed down to a 4-item battery measuring agility, strength, endurance and explosive strength. The battery was administered to 258 male university students aged 17-25 in India. Percentile norms were established to provide criteria for identifying motor fitness levels and talent potential.
This document discusses issues with sustaining agreements between Indigenous communities and corporations regarding major projects in Australia. While such agreements have provided opportunities for compensation, training, employment and enterprises, they often fail to deliver lasting benefits to communities. Agreements frequently do not align with community aspirations and capacity, and lack support for long-term implementation. Both communities and companies struggle with effective governance and management over the life of multi-generational projects. The document argues for a dual focus on negotiations and long-term implementation in order to sustain agreements and relationships over the life of projects.
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating it provides inspiration and allows users to get started making their own presentations. It encourages the reader to create presentations on the Haiku Deck platform hosted on SlideShare.
This lesson plan teaches 4th grade students about the Boston Tea Party over the course of a week through various activities and technologies. On Monday, students will watch a video about the Tea Party and blog about what they learned. On Tuesday, they will comment on a Facebook post about an article. Wednesday involves using Twitter and a webquest for a poster project. Thursday continues the poster and introduces a robot project. On Friday, students will take a quiz and present their posters. Various technologies like YouTube, Smartboard, and online resources are incorporated into the lessons.
The document describes LOVEKIT, a branded intimate products company based in Slovenia. It discusses LOVEKIT's flagship product, the LOVEKIT Special intimate kit, which contains condoms, lubricant, towels and instructions. It notes the kit's presence in 78 DM stores in Slovenia and arrangements in Italy and the UAE. The document outlines LOVEKIT's marketing efforts and brand vision to become a leading hotel amenity and internationally available product within 5 years. It introduces the company founder and his experience in marketing, sales, and new product development.
O documento apresenta as informações sobre o site Thingz, incluindo seu conteúdo, audiência, formatos de mídia disponíveis para anúncios e parcerias, como publieditoriais, canais patrocinados e troca de experiências.
Macros:
Módulos:
Otras herramientas:
- Manejo de datos
- Diseño de base de datos
- Personalización
- Seguridad
- Importación/exportación
- Compatibilidad
Ventajas de Access:
- Fácil de usar
- Visual
- Integrado con Office
- Multiusuario
- Exportable
- Programable
Limitaciones:
- Tamaño de base de datos
- Rendimiento con grandes volúmenes
- Seguridad
- Compatibilidad
Pakistani spices at a glance A Lecture by Mr Allah Dad Khan Mr.Allah Dad Khan
This document provides an overview of various Pakistani spices and their health benefits. It discusses how humans have used spices for over 50,000 years not just for flavor but also for their disease preventing and healing properties. Specific spices mentioned include asafoetida, which is used to treat indigestion, menstrual problems, and more; basil, which has various benefits including as a nerve tonic, for respiratory issues, and strengthening kidneys; black cardamom, which is used in traditional Chinese medicine and meat stews; and collard greens, a good source of vitamins and fiber. In total, the document discusses the origins, uses, and health properties of over 25 different Pakistani spices.
El documento describe la narración digital como la combinación de una historia con imágenes, video, música y otras herramientas digitales. Explica que involucra concebir una idea, escribir un guión, producir recursos, crear un storyboard, montar la narración y publicarla. También identifica siete elementos clave para construir historias digitales y sugiere que puede usarse para enseñar de manera atractiva y motivadora.
The document introduces the National English Program in Basic Education (NEPBE) that aims to incorporate English as a subject in preschool, elementary, and secondary education in Mexico. It establishes testing stages and expansion phases to implement the program between 2009-2012. The goals are to help students develop multilingual and multicultural competencies to succeed in a globalized world and foster cultural understanding and respect. The NEPBE is aligned with national and international standards and seeks to standardize and improve English education across all levels of basic public education in Mexico.
The document discusses various topics related to EB-5 investments and real estate development projects seeking EB-5 funding. Specifically, it mentions that the popular EB-5 senior housing investment program faces an uncertain future as Congress' deadline approaches. It also summarizes several legal cases filed by the SEC against individuals and companies for alleged fraud in soliciting EB-5 investors. In addition, it provides an update on the Walton Westphalia development project in Maryland.
1) A Reuters article provided a critical examination of the EB-5 visa program, noting misleading promises made to foreign investors and high rates of applications that do not result in permanent residency.
2) A Florida developer is using EB-5 funding to build an unconventional fractional marina ownership concept never before seen in the US.
3) In Milwaukee, a preservation vs development battle was resolved with a compromise that allows an EB-5-funded Marriott hotel project to move forward while retaining the facades of existing buildings.
This newsletter provides an overview of recent EB-5 regional center projects and developments that received media attention in January 2010. Key points include:
- Several EB-5 regional center projects broke ground or made local headlines, including projects in Alabama, Ohio, Louisiana, and Vermont focused on auto manufacturing, research parks, commercial real estate, and biotech facilities.
- Additional regional centers in New York, Colorado, Missouri, and other states are in the process of being formed or have potential projects in the works focused on airports, rural development, startups, and ski resorts.
- The EB-5 visa program is gaining increased interest from immigration attorneys and their clients as the H-1B market declines and
1. The document evaluates the Operation Trumpet Call (OTC) project, a conservation agriculture project run by Tearfund and local churches in Zimbabwe. OTC promotes conservation agriculture techniques similar to other organizations but emphasizes time management principles. It also originally provided free inputs and organizes through local churches.
2. Farmers who adopted techniques through OTC reported increased maize yields averaging 717kg per farmer, sufficient for family consumption. Yields were 1.5-2.4 metric tons per hectare. However, conservation agriculture requires more labor than conventional farming. Increased production led to benefits like improved schooling and livestock.
3. While some farmers adopted conservation agriculture practices for all production, most use it on
Building Capability in an Innovative Way V3Alan Roy
This document provides an overview of GSK's approach to building Lean capabilities through role model leaders teaching and coaching. GSK developed a program where over 300 senior leaders taught and coached Lean thinking and practices to employees over a 3-week cycle. This helped embed Lean fundamentals as a way of life. The program resulted in unexpected benefits like improved relationships across the organization and better understanding of how to apply Lean tools. It also led to measurable impacts like reducing incident resolution times and staffing needs for computer support. Going forward, GSK aims to continue having senior leaders coach Lean and make it part of daily work.
O documento discute a importância do foco e como manter o foco em um mundo cheio de distrações. A dispersividade é definida como a tendência de fazer muitas coisas ao mesmo tempo sem terminar ou fazer bem nenhuma delas. O documento também discute como o foco é essencial para o sucesso e como treinar a atenção para combater as distrações modernas.
This study aimed to develop a standardized motor fitness test battery for identifying and selecting talent at the university level. Researchers initially identified 9 test items measuring 5 components of motor fitness. Through expert evaluation and focus groups, the tests were narrowed down to a 4-item battery measuring agility, strength, endurance and explosive strength. The battery was administered to 258 male university students aged 17-25 in India. Percentile norms were established to provide criteria for identifying motor fitness levels and talent potential.
This document discusses issues with sustaining agreements between Indigenous communities and corporations regarding major projects in Australia. While such agreements have provided opportunities for compensation, training, employment and enterprises, they often fail to deliver lasting benefits to communities. Agreements frequently do not align with community aspirations and capacity, and lack support for long-term implementation. Both communities and companies struggle with effective governance and management over the life of multi-generational projects. The document argues for a dual focus on negotiations and long-term implementation in order to sustain agreements and relationships over the life of projects.
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating it provides inspiration and allows users to get started making their own presentations. It encourages the reader to create presentations on the Haiku Deck platform hosted on SlideShare.
This lesson plan teaches 4th grade students about the Boston Tea Party over the course of a week through various activities and technologies. On Monday, students will watch a video about the Tea Party and blog about what they learned. On Tuesday, they will comment on a Facebook post about an article. Wednesday involves using Twitter and a webquest for a poster project. Thursday continues the poster and introduces a robot project. On Friday, students will take a quiz and present their posters. Various technologies like YouTube, Smartboard, and online resources are incorporated into the lessons.
The document describes LOVEKIT, a branded intimate products company based in Slovenia. It discusses LOVEKIT's flagship product, the LOVEKIT Special intimate kit, which contains condoms, lubricant, towels and instructions. It notes the kit's presence in 78 DM stores in Slovenia and arrangements in Italy and the UAE. The document outlines LOVEKIT's marketing efforts and brand vision to become a leading hotel amenity and internationally available product within 5 years. It introduces the company founder and his experience in marketing, sales, and new product development.
O documento apresenta as informações sobre o site Thingz, incluindo seu conteúdo, audiência, formatos de mídia disponíveis para anúncios e parcerias, como publieditoriais, canais patrocinados e troca de experiências.
Macros:
Módulos:
Otras herramientas:
- Manejo de datos
- Diseño de base de datos
- Personalización
- Seguridad
- Importación/exportación
- Compatibilidad
Ventajas de Access:
- Fácil de usar
- Visual
- Integrado con Office
- Multiusuario
- Exportable
- Programable
Limitaciones:
- Tamaño de base de datos
- Rendimiento con grandes volúmenes
- Seguridad
- Compatibilidad
Pakistani spices at a glance A Lecture by Mr Allah Dad Khan Mr.Allah Dad Khan
This document provides an overview of various Pakistani spices and their health benefits. It discusses how humans have used spices for over 50,000 years not just for flavor but also for their disease preventing and healing properties. Specific spices mentioned include asafoetida, which is used to treat indigestion, menstrual problems, and more; basil, which has various benefits including as a nerve tonic, for respiratory issues, and strengthening kidneys; black cardamom, which is used in traditional Chinese medicine and meat stews; and collard greens, a good source of vitamins and fiber. In total, the document discusses the origins, uses, and health properties of over 25 different Pakistani spices.
El documento describe la narración digital como la combinación de una historia con imágenes, video, música y otras herramientas digitales. Explica que involucra concebir una idea, escribir un guión, producir recursos, crear un storyboard, montar la narración y publicarla. También identifica siete elementos clave para construir historias digitales y sugiere que puede usarse para enseñar de manera atractiva y motivadora.
The document introduces the National English Program in Basic Education (NEPBE) that aims to incorporate English as a subject in preschool, elementary, and secondary education in Mexico. It establishes testing stages and expansion phases to implement the program between 2009-2012. The goals are to help students develop multilingual and multicultural competencies to succeed in a globalized world and foster cultural understanding and respect. The NEPBE is aligned with national and international standards and seeks to standardize and improve English education across all levels of basic public education in Mexico.
The document discusses various topics related to EB-5 investments and real estate development projects seeking EB-5 funding. Specifically, it mentions that the popular EB-5 senior housing investment program faces an uncertain future as Congress' deadline approaches. It also summarizes several legal cases filed by the SEC against individuals and companies for alleged fraud in soliciting EB-5 investors. In addition, it provides an update on the Walton Westphalia development project in Maryland.
1) A Reuters article provided a critical examination of the EB-5 visa program, noting misleading promises made to foreign investors and high rates of applications that do not result in permanent residency.
2) A Florida developer is using EB-5 funding to build an unconventional fractional marina ownership concept never before seen in the US.
3) In Milwaukee, a preservation vs development battle was resolved with a compromise that allows an EB-5-funded Marriott hotel project to move forward while retaining the facades of existing buildings.
This newsletter provides an overview of recent EB-5 regional center projects and developments that received media attention in January 2010. Key points include:
- Several EB-5 regional center projects broke ground or made local headlines, including projects in Alabama, Ohio, Louisiana, and Vermont focused on auto manufacturing, research parks, commercial real estate, and biotech facilities.
- Additional regional centers in New York, Colorado, Missouri, and other states are in the process of being formed or have potential projects in the works focused on airports, rural development, startups, and ski resorts.
- The EB-5 visa program is gaining increased interest from immigration attorneys and their clients as the H-1B market declines and
The document summarizes discussions from the fifth annual Akerman U.S. Real Estate Summit held in Miami. Nearly 300 real estate executives discussed trends in commercial real estate investment. Speakers explored alternative financing vehicles like EB-5 and how it could be utilized in the capital stack. A session focused on how EB-5 is emerging as a financing option for retailers. A survey unveiled at the summit found investor and lender confidence in the U.S. commercial real estate market is rising, with the U.S. expected to remain a top global investment destination. EB-5 was one of the alternative financing sources discussed.
The document discusses several topics:
1. A seminar addressed the implications of a new Chinese court decision that will increase regulation of EB-5 brokers marketing projects in China. The decision restricts promotional activities and requires brokers be licensed.
2. The Chinese government has also taken steps to crack down on illegal fundraising schemes and tighten rules for immigration brokers.
3. An upcoming seminar in Las Vegas will provide information on EB-5 regional center promotion and investor procurement.
4. NPR recently reported positively on the EB-5 program and how it has helped projects like Jay Peak resort, generating tens of thousands of jobs.
This document discusses how the EB-5 regional center project approval process came about through the saga of an EB-5 investment in the renovation of the Watergate Hotel in Washington D.C. The initial investor petitions related to the project were denied, which highlighted issues with the process at the time. This led the developer's attorney to advocate for a new project approval process, where a regional center could present a project to USCIS and receive approval to use in individual petitions. USCIS adopted this approach through a 2009 memo, and it has since provided more stability for regional centers and investors. However, financing fell through for the Watergate project itself, and it was ultimately not completed as an EB-5 project. The document
The document provides updates on the EB-5 visa program and regional centers. It discusses how a new California regional center called Wave House is facing challenges with its first project at Belmont Park due to a large rent increase from the city. It also summarizes USAdvisors' visits to EB-5 attorneys, regional centers, and projects in California, and how the EB-5 program received significant attention at the recent AILA immigration law conference.
The document discusses an indictment against A. Eddy Zai, the owner of an EB-5 regional center, and two others related to fraud, bribery, money laundering, conspiracy, and false statements. This indictment is connected to a conspiracy that resulted in the collapse of the St. Paul Croatian Federal Credit Union. Specifically, the indictment alleges that Zai conspired with others to submit false loan documents to the credit union, defraud it of $16.7 million, and pay bribes and kickbacks to a credit union executive in exchange for approving loans to Zai and his companies between 2003 and 2010. The credit union was placed into conservatorship in 2010 as a result.
The article discusses the Louisiana International Gulf Transfer Terminal (LIGTT) project, a $1.3 billion mega-terminal project that received EB-5 regional center approval. The project aims to improve trade by serving as a hub for larger vessels to transfer goods to smaller vessels for transport inland. It is projected to create over 180,000 jobs. Some praise LIGTT for its large scale and compliance, while others question whether the project's job and revenue projections are realistic and whether it can realistically raise the necessary EB-5 capital. Performing thorough due diligence on projects' viability is discussed as important for investors.
The document summarizes recent events related to the EB-5 visa program:
1) The Victorville Regional Center in California was shut down by USCIS for the first time, due to concerns over its job creation methodology and viability of its projects.
2) USAdvisors.org partnered with a major Chinese media company to broadcast information about the EB-5 program to over 100 million Chinese viewers.
3) USAdvisors.org will film interviews with EB-5 practitioners in several US cities to provide information to Chinese investors for broadcast on Chinese television.
This newsletter article summarizes several EB-5 projects being developed in the United States. It discusses a regional center in Illinois developing a sports complex expected to create 400 jobs. It also describes plans in Colorado to renovate historic buildings in Leadville using EB-5 funds and create cellulosic biofuel plants employing downed timber, as well as an EB-5 funded Marriott hotel project breaking ground in Washington D.C. expected to create over 1200 jobs.
This document summarizes an article from the November 2013 issue of EB-5 News. It reports that the SEC halted a $150 million Ponzi scheme operated by Velocity Investment Group and related entities. The SEC alleges that Velocity and its Bio Profit Series funds raised over $150 million from investors by selling promissory notes but used newer investors' funds to pay quarterly interest to earlier investors, resembling a Ponzi scheme. Additionally, Velocity provided falsified financial statements to investors that overstated its assets and returns. The scheme had ties to an EB-5 regional center. The document provides an overview of the SEC's allegations and actions to freeze assets and halt the fraudulent activity.
This newsletter summarizes recent EB-5 regional center and project news across multiple states. In Colorado, the newly approved Colorado Regional Center is focusing on development projects in Vail and Aurora. In California, the Victorville Regional Center received a second termination notice from USCIS. Montana's governor expressed support for opening a regional center. American Life Inc. promoted its Seattle project with a new video. Utah's first regional center will focus on hospitality projects. In Florida, two major projects were profiled - a Margaritaville resort in Hollywood and potential redevelopment of the Great Southern Hotel. The newly approved Florida Regional Center announced its first project in Jupiter. A very large New York project was also mentioned as possibly raising the most EB
The document summarizes news from the February 2010 EB-5 newsletter. It discusses two new regional centers approved in Washington and Michigan that will focus on biofuels and alternative energy projects. It also provides commentary that is skeptical of a hybrid car manufacturing project in Alabama using EB-5 funds. Finally, it discusses how financial issues in Greece and Europe may result in fewer EB-5 investors from the region.
The document discusses concerns about the EB-5 immigrant investor program and its ability to reliably create jobs and economic growth. It notes that many EB-5 projects fail or vastly overstate job creation projections. Critics argue the program lacks oversight and accountability. While some projects in Vermont created new businesses and tourism, many question the sustainability and profitability of the ventures due to discounted pricing and reliance on continued investment. Overall, the EB-5 program is portrayed as unpredictable and prone to fraud without reforms for reliable reporting and oversight of job creation claims.
This document summarizes key information from a weekly issue of Real Estate Finance Intelligence, including:
- Colliers International may acquire DTZ, a property management company owned by UGL Limited.
- Starwood Capital Group secured a $235 million syndicated loan from Bank of America to fund development of the first Baccarat-branded hotel in New York City.
- Moody's criticized Standard & Poor's for assigning ratings that were four to six levels higher than what Moody's would have assigned to a Morgan Stanley commercial mortgage-backed securitization.
This document summarizes a proposal by US Citizenship and Immigration Services (USCIS) to partner with the Department of Commerce (DOC) to promote and administer the EB-5 immigrant investor visa program. It notes that the EB-5 program has been underutilized and has created limited jobs. The proposal suggests that USCIS and DOC work together through an inter-agency working group, with DOC assisting in making the EB-5 program more accessible to foreign investors through administrative efficiencies and promotion, while USCIS manages the visa portion. The goal would be to increase awareness, utilization and job creation through the EB-5 program.
The EB-5 investor visa program is becoming more popular since Rule 506 (c) became law allowing issuers to advertise their offerings to foreign investors seeking U.S. residency. As with any investment proper due diligence is crucial. The Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services (“USCIS”) have issued recent warnings to foreign investors regarding the fraudulent use of the EB-5 program.
The EB-5 investor visa program is becoming more popular since Rule 506 (c) became law allowing issuers to advertise their offerings to foreign investors seeking U.S. residency. As with any investment proper due diligence is crucial. The Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services (“USCIS”) have issued recent warnings to foreign investors regarding the fraudulent use of the EB-5 program.
The document summarizes recent news and events related to the EB-5 visa program. It discusses an upcoming conference to advocate for making the EB-5 regional center program permanent. It also summarizes a webinar on EB-5 visas featuring expert practitioners and regional center projects being developed by American Life Incorporated on both coasts. The document provides an overview of the current state of the EB-5 program and momentum to extend it beyond its 2012 sunset date.
Similar to Eb5projects.com August 2015 Newsletter (20)
翻译 - Eb5 projects.com April 2015 NewsletterUSAdvisors.org
This document provides information on various EB-5 projects and organizations. It discusses All Aboard Florida's EB-5 project to fund their passenger rail system, as well as other projects like Dakota Spirit AgEnergy and McDowell Enterprises. It also mentions FBI investigations into some EB-5 regional centers and provides contact information for EB-5 legal experts. Overall, the document serves as an informational guide to the US EB-5 visa program and various active projects and organizations within the industry.
The SEC charged two firms with illegally brokering more than $79 million in investments from foreigners seeking U.S. residency through the EB-5 Immigrant Investor Program. This is the first action against brokers handling investments in the EB-5 program and follows earlier SEC actions against fraudulent EB-5 offerings. A website that tracks EB-5 projects will publish ongoing updates about the case and litigation and seeks comments from readers to include in an upcoming newsletter.
The document discusses the EB-5 program in South Dakota and the related political controversy surrounding former governor Mike Rounds. Specifically, it outlines how the state-run EB-5 program failed under Rounds' administration, losing $100 million in investments for a bankrupt beef plant project. An investigation found misuse of funds and conflicts of interest among officials. This scandal threatens to undermine Rounds' current campaign for US Senate, as opponents criticize his role in the problematic EB-5 program.
This document is an issue of EB-5 News from July/August 2014. It contains several articles related to the EB-5 visa program:
- The State of Michigan was recently approved as an EB-5 regional center, spearheaded by Governor Rick Snyder, to attract foreign investment and help create jobs across the state.
- An article discusses the EB-5 program from two perspectives - those who see it as creating jobs and economic growth, and those who believe it sells American citizenship. It highlights both successful projects and the largest fraud case involving the failed $147 million Chicago Convention Center project.
- Other articles cover recent EB-5 events like forums in Beijing and Chicago, a report on increasing visa processing
The document summarizes industry reactions to Canada's cancellation of its investment visa program in February 2014. It provides perspectives from US attorneys and EB-5 service providers on the potential impacts on the US EB-5 program. Many felt it would increase interest and applications to the US EB-5 program from former Canadian program applicants, especially Chinese investors. However, some noted it could also exacerbate the already long wait times for Chinese nationals due to increased demand. Overall the cancellation was seen as likely increasing attention on and demand for the US EB-5 immigrant investor program.
The document summarizes an investigation into USCIS Director Alejandro Mayorkas regarding his role in approving an EB-5 visa application. It describes how the investigation began in September 2012 when an FBI analyst tipped off the DHS Office of Inspector General. It then provides a chronology of events including emails between Mayorkas and USCIS staff regarding expedited visa requests. The chronology shows Senator Grassley's office requesting more information from DHS, FBI, and USCIS about the investigation into Mayorkas and issues with the EB-5 program.
The FBI is investigating a Texas-based EB-5 regional center called USA Now for operating what they believe to be a Ponzi scheme that defrauded Mexican investors. The FBI has been investigating the center for over a year based on suspicions of money laundering, wire fraud, and transporting stolen property. Records show investor funds were transferred to bank accounts controlled by the center's principals instead of being used for job creating projects. If true, this would represent one of the largest alleged EB-5 investment fraud schemes targeting foreign nationals.
The SEC expert discussed key issues under federal securities law related to EB-5 regional centers and investments. They noted that the definition of "securities" under law is broad and can include many types of investments. They also explained that federal securities laws apply to any offers or sales made using interstate commerce. Finally, they stated that while some exemptions from registration requirements exist, activities are not exempt from all of securities law.
This document summarizes the lessons learned by a real estate developer in their first attempt to raise EB-5 capital. Key points:
- The developer relied too heavily on advice from an inexperienced regional center, which led them to make poor choices in team members and documents that had to be redone.
- The regional center's lawyer provided bad advice and was rarely available, leading the developer to fire them and take full control of the project.
- An economist recommended by the regional center produced a report that underestimated job creation and did not provide the best information for the project.
- Overall the developer stresses doing thorough research on team members' experience and references, not assuming regional centers know what
- The document discusses commentary on a New York Times article that was critical of inconsistencies in how states define Targeted Employment Areas for EB-5 projects.
- There is disagreement on whether most EB-5 projects are those Congress envisioned in rural/high unemployment areas or if developers are "gaming the system" through TEA designations.
- The author provides commentary on these issues after meeting with the New York Times reporters, including that large city developers have advantages over rural areas in accessing EB-5 investor funds.
This document summarizes an article discussing an insurance product being offered to EB-5 investors in the Idaho State Regional Center's Blackhawk Gold project. The insurance, provided by Sidecars Insurance, would reimburse investors up to $500,000 if their principal investment is not repaid. However, the insurance policy is controversial as it may violate the EB-5 requirement that investments remain "at risk". Additionally, the insurance claims are intended to be paid through investments in life settlement policies from Life Partners, a company that has faced fraud allegations. While the regional center says it has no connection to the insurance, it is only being offered to investors in the one project. The legality and advisability of the insurance product remains unclear.
The document summarizes key points from an EB-5 visa webinar hosted by the Alliance of Business Immigration Lawyers (ABIL) that featured expert EB-5 attorneys. The webinar covered a wide range of EB-5 issues, including expectations for EB-5 visa availability in 2011, different types of clients that may qualify for EB-5, factors to consider when choosing the individual versus regional center EB-5 investment options, and recommendations for performing due diligence on EB-5 regional centers and their operators.
The document summarizes a newsletter from May 2010 about the EB-5 visa program. It discusses:
1) USAdvisors.org visiting various EB-5 regional centers across the southern and midwestern US to film and conduct interviews.
2) An immigration attorney, Karen Caco, beginning filming trips of EB-5 regional centers on the west coast, including stops in northern California.
3) The approval of the Northern California Regional Center and its plans for an agricultural development project creating $170 million in economic activity.
This newsletter summarizes recent EB-5 investment efforts and developments in several US states and regions. It also announces a three-part seminar on essential EB-5 issues to be held in late April and June. Specifically:
1) California, Mississippi, Indiana, and New England are pursuing foreign investment through EB-5 regional centers and projects. California seeks to attract manufacturing jobs to the Inland Empire through centers.
2) A former DNC chair will help recruit EB-5 funding for an electric vehicle plant in Mississippi. Indiana is also exploring the program's potential.
3) A new center covering six Northeast states plans EB-5 funded projects in retail and brewing.
4
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Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
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The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
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1. The Source for Information
on the U.S. EB-5Visa Program
The Source for Information on EB-5 Visa Investments.
“Inform your clients, protect your practice.”
AUGUST 2015IS THE DREAM OVER? ADF’S EB-5
SLS CASINO POSTS SIX STRAIGHT
MONTHS OF LOSSES, OVER $80
MILLION FOR 2015 Page 04
EB-5 REGIONAL CENTER OWNER
& DEVELOPER ACCUSED BY SEC
OF DEFRAUDING HUNDREDS OF
CHINESE INVESTORS Page 05
EB-5 FALLOUT FOLLOWING
CHINA’S BLACK MONDAY Page 05
EFFECTIVE TODAY: FINRA RULE
2040: DISCLOSURE OF FINDER’S
FEE PAYMENTS TO FOREIGN
AGENTS Page 06
2. The Source for Information
on the U.S. EB-5Visa Program
The Source for Information on EB-5 Visa Investments.
“Inform your clients, protect your practice.”
Offshore Megaport Near Mouth of Mississippi Plans $25 Million
First Phase
Page 06
AUGUST 2015
SEC Says Developer Dargey Bilked Investors in Projects
Page 08
Feds: Developer of Big Everett Project Skimmed Investor Money
Page 09
EB-5 Investor Dollars Are Fuelling Development in Socal, but the
Program Is Vulnerable To Fraud
Page 12
Vietnam Doesn’t Grant Overseas Investment Certificates to
Facilitate Acquisition of Green Cards
Page 14
What Donald Trump Does Right
Page 17
Green Valley Hospital- EB-5 Saving Lives
Page 21
EB5 Capital Receives USCIS Approval
Page 30
4. 4
EB5Projects.COM•AUGUST2015
Posts
Is The Dream Over? ADF’s EB-5 SLS
Casino Posts Six Straight Months of
Losses, Over $80 Million For 2015
EB-5 Regional Center American Dream Fund’s SLS LasVegas
offerings in which more than 600 mostly Chinese green
card applicants have invested over $300 million and their
future is in the words of Casino.org “on the kind of streak
you don’t want to be on in Sin City: a losing one.”
“For the sixth straight month, the property that is located
on the site of the former “Rat Pack” Sahara Hotel & Casino
has lost millions of dollars, totaling $48.6 million in the
second quarter and $83.9 million for 2015.”
Read more
5. 5
EB5Projects.COM•AUGUST2015
EB-5 Regional Center Owner & Developer
Accused by SEC of Defrauding Hundreds
of Chinese Investors
EB-5 Regional Center Path America CEO Lobsang Dargey
is being accused by the U.S. Securities and Exchange
Commission (SEC) of siphoning off $17.6 million dollars
from over $125 million that he raised from Chinese
investors.
According to the allegations, millions that he raised from
252 investors were diverted to purchase a $2.5 million
dollar home, other real estate investments, and a gambling
spree at 14 luxury casinos. Federal authorities are seeking
to force Dargey to forfeit the luxurious home in Bellevue
that he purchased with the investors funds, $6.5 million in
commercial property as well as reimburse funds spent on
personal spending sprees.
Read more
Related Stories
• Tibetan Monk-Turned-Developer Accused of
Defrauding Immigrants
• SEC Announces Asset Freeze against Alleged EB-5
Fraudster in Seattle Area
• SECSaysLocalDeveloperCheatedImmigrantInvestors,
Spent Money on Himself
• Report: Feds Must Do More to Assess‘Wealthy Investor’
Visa Fraud
EB-5 Fallout Following China’s Black
Monday
Asian investors have lost over $1.5 Trillion dollars of net worth in the past four days with indexes across Asia hitting a
three year low yesterday. The Shanghai Composite Index has fallen by nearly 40 percent since June, after rising more
than 140 percent last year. Tokyo’s Nikkei-225 index recorded its biggest drop in more than two years, falling 4.6 percent
to a six-month low, while the MSCI index of Asia-Pacific shares outside Japan sank 5.1 percent to a three-year low.
Read more
6. 6
EB5Projects.COM•AUGUST2015
Offshore Megaport Near Mouth of
Mississippi Plans $25 Million First Phase
State Sen. A.G. Crowe, left, cuts a
cargo ship cake after backers of the
Louisiana International Deep Water Gulf
Transportation Terminal announced
Monday, Aug. 31, 2015; they had secured
the $25 million needed for the first phase
of their project.
A long-proposed offshore megaport at the
end of the Mississippi River could start to
take shape next year, with its supporters
hailing it as the most significant economic
development in Louisiana history.
Leaders at existing ports applaud their
optimistic outlook but question whether
the project is a viable undertaking.
Read more
Effective Today: FINRA Rule 2040: Disclosure
of Finder’s Fee payments to Foreign Agents
Effective today all issuers of securities offerings are required
to disclose to investors the amount of fees paid to foreign
agents (finders) and receive written acknowledgement
from the investors of the fees paid. A document disclosing
the total compensation paid by the issuer to the finder, and
each investor’s acknowledgement of the same, must be
retained and available for inspection by FINRA.
This regulation could transform the EB-5 visa industry from
one of non-disclosure and non-transparency concerning
agent compensation agreements if complied with, the
question is, how many Regional Centers and Direct issuers
will comply with this new regulation?
Read more
7. 7
EB5Projects.COM•AUGUST2015
3 Path America Projects Halted After
SEC Action
Firms working on three of Lobsang
Dargey’s real estate projects have
stopped work and more could follow
because of the civil action against him
by the U.S. Securities and Exchange
Commission.
PCL Construction is the general
contractor for Potala Tower, a 41-story
high rise that Dargey’s companies,
Dargey Development and Path America,
are developing at 2116 Fourth Ave. in
Belltown. Tom Doig, PCL vice president
and district manager, said Wednesday
the firm is suspending work on the
project. He added “we are hopeful that
a quick resolution to the issues can be
reached.”
Read more
8. 8
EB5Projects.COM•AUGUST2015
Failure to Investigate Could Mean“Game-Set-
And-Match”For EB-5 Investors: SEC Case against
Brother-In-Law of Tennis Star Andre Aggasi
Shows Risk for Would-Be Immigrant Investors
The U.S. Securities and Exchange Commission (SEC) filed
a civil fraud suit against Lobsang Dargey, a Bellevue,
Washington-based real estate developer and alleged
fraudster, who also happens to be a brother-in-law of
tennis star Andre Agassi. Dargey had ventured into the EB-5
Programasadeveloperandregionalcenterowner,securing
designation by United States Citizenship and Immigration
Services (USCIS) for two regional centers, Path America
SnoCo and Path America KingCo. The complaint is relevant
to both investors and regional centers in the EB-5 industry,
as well as to lawyers advising issuers in EB-5 offerings.
Read more
SEC Says Developer Dargey Bilked Investors
in Projects
The Securities and Exchange Commission filed a complaint
and sought a restraining order Monday against the head
of an investment firm, saying he bilked more than 250
Chinese investors out of millions of dollars on two real
estate projects — a skyscraper in downtown Seattle and a
development in Everett.
Securities officials said Lobsang Dargey, CEO of Path
America, exploited a federal visa program to defraud
investors by claiming their involvement in his projects will
help secure their residency in the U.S. The EB-5 Program
lets foreign nationals qualify for residency if they invest
$500,000 or more in projects that create jobs for U.S.
workers.
Read more
9. 9
EB5Projects.COM•AUGUST2015
How Las Vegas’Tourism and Retail
Industries Are Chasing Chinese Dollars
As senior marketing manager
for two of the top shopping
destinations on the Strip —
FashionShowmallandtheGrand
Canal Shoppes, both owned by
General Growth Properties —
Janet LaFevre strives to stay a
step ahead of the pack when it
comes to recognizing trends in
Las Vegas’visitor demographics.
On the international front,
LaFevre takes her cues from
China.
“LasVegasisanevolvingcity,and
we need to ensure we continue
to meet the growing demands of
our international customers —
specifically the Chinese,” LaFevre
said.
Read more
Feds: Developer of Big Everett Project
Skimmed Investor Money
The developer of a hotel, apartment complex and farmer’s market in downtown Everett is under
investigation by the federal government for allegedly bilking overseas investors out of millions
of dollars.
Lobsang Dargey, the CEO of Path America and the builder of the Potala Place development, is
being sued in federal court by the U.S. Securities and Exchange Commission.
The civil complaint, filed Monday in U.S. District Court in Seattle, says Dargey fraudulently raised
more than $125 million through sales of securities to at least 250 investors.
Read more
10. 10
EB5Projects.COM•AUGUST2015
New Owner Considers Options for
Historic Downtown Eola Hotel
The new owner of the crown jewel of
downtown Natchez — the Eola Hotel —
is going back to the drawing board to
craft the future of the building.
VirginiabasedattorneyRobertLubin,who
purchased the hotel at the end of last year
and proceeded to close it, originally said
the property would no longer function
as a hotel. He later presented plans to
the Natchez Preservation Commission
to convert the building into senior living
apartments.
After a visit from Mayor Butch Brown,
Lubin is keeping the hotel option on the
table, he says.
“Right now, I’m looking at keeping some
hotel rooms, but also incorporating
some apartments,”Lubin said.“Nothing is
guaranteed, though.”
Read more
More than $3 Billion in Open Direct Job
Projects Identified for the American Economy
Improvements to the EB-5 Immigrant Investor program are
vital to ensure optimal investment for the U.S.
Projects representing more than $3 billion in direct job
opportunities utilizing the EB-5 Immigrant Investor
program represent the importance of improving the
efficiency of the EB-5 program. MAJA, the More American
Jobs Alliance, supports these projects and voices serious
concerns regarding the allowances given for indirect
projects and the grandfathering clause which will cause
significant delay to program reforms.
“As Congress looks to renew the EB-5 program in late
September, serious consideration should be given to
reducing the dependence on indirect job investments and
removing the grandfathering clause to allow the more
beneficial investment of billions of dollars in direct EB-5
projects”
Read more
Related Stories
• U.S. Job Creation at No Cost to the Taxpayer: An Idea
We Can All Agree On
• EB-5 Job Creation Requirements Clarified As Renewal
Approaches
• Draft PM-602-0121: Guidance on the Job Creation
Requirement and Sustainment of the Investment for
Eb-5 Adjudication of Form I-526 and Form I-829
11. 11
EB5Projects.COM•AUGUST2015
Pending EB-5 Legislation Provides a
Comprehensive Response to the GAO
On August 12, 2015, the Government Accountability Office
(GAO) identified three areas for improvement and provided
recommendations to U.S. Citizenship and Immigration
Services (USCIS) in relation to its administration of the EB-5
Immigrant Investor Program. We summarized the GAO’s
report here.
This article will examine the way in which three pending
bills in Congress address the GAO’s recommendations. The
American Entrepreneurship and Investment Act (H.R.616),
the EB-JOBS Act (H.R.3370), and the American Job Creation
and Investment Promotion Act (S.1501) have overlapping
policy provisions designed to enhance agency oversight
authority, promote program integrity, and enhance data
collection. These bills provide Congress with a menu of
policy ideas that answer GAO’s recommendations. In its
response letter to the GAO, USCIS concurred in all of the
GAO’s recommendations and agreed to implement them.
Pending legislation, however, provides lawmakers with
the opportunity to further support USCIS in making the
changes the GAO recommended.
Read more
Related Stories
• Immigration Officials Not Doing Enough to Assess
Fraud in Foreign Investor Visa Program, GAO Says
• GAO Calls for Better Assessment of Fraud Risks,
Economic Benefits from EB-5 Program
• GAO Says Feds Lack Proper Oversight of EB-5 Investor
Visa Program
12. 12
EB5Projects.COM•AUGUST2015
Boston’s Booming Commercial Real
Estate Market Attracts Diverse Capital
Ask any real estate investor and most likely
they will tell you that Boston is the place to
be, along with other major metropolitan
areas like New York and San Francisco.
The Greater Boston real estate market is
booming right now, drawing attention and
money from around the world. Boston’s
emerging identity as a technology center
along with its rich history of educational
and medical institutions has solidified the
market as a global powerhouse.
It’s an exciting time with developments
popping up all over the city and a skyline
peppered with cranes. Over the past year,
almost 25% of the existing real estate
inventory in Boston has changed hands
and there’s a substantial amount of new
development underway or in the pipeline.
The Seaport District continues to have
significant development activity with
office, retail, hospitality and residential
projects underway. The Back Bay, Fenway,
South End and Downtown Crossing are
also seeing noteworthy development
activity.
Read more
EB-5 Investor Dollars Are Fuelling
Development in Socal, but the Program
Is Vulnerable To Fraud
Patriotic images and posters of Hillary Clinton in the
storefront of an EB-5 investment firm in San Gabriel.
Foreign investment dollars are transforming parts of the
San GabrielValley. Drive down parts ofValley Boulevard and
one sees new hotels, grocery stores, mini-malls, restaurants,
many of them catering to a Chinese immigrant clientele.
There’s something else peppering stretches of Valley:
Banners on construction projects and plastic signs on
storefront offices that read“EB-5.”
Read more
13. 13
EB5Projects.COM•AUGUST2015
EB5 Capital Announces Appointment of
Lulu Gordon as General Counsel
EB5 Capital announced that Leslie (Lulu)
Gordon,Esq.isservingasthefirm’sSeniorVice
President and General Counsel. EB5 Capital
connects qualified investors with prominent
real estate development partners to finance
high-quality mixed-use, hospitality, and
residential development projects that fulfill
the mission of the U.S. government’s EB-5
Visa Program.
EB5 Capital announced that Leslie (Lulu)
Gordon, Esq. is serving as the firm’s Senior
VicePresidentandGeneralCounsel.Withover
25 years of experience in law and finance,
Ms. Gordon oversees the firm’s legal affairs
including offerings, contracts, compliance
and outside counsel. She also manages
project filings, investor reporting, and other
operational functions for the firm. She is
admitted to practice law in both California
and New York, holds Series 7 and Series 66
securities licenses, and operates out of EB5’s
San Francisco office.
Read more
Oakland Developer Seeks Chinese
Investors to Fund 250 Units of New
Housing
Sunfield Development LLC is
hopingtoattractnearlyahundred
foreign investors through the
EB-5 program to partially fund a
new housing project at 1800 San
Pablo Ave. in Oakland.
The Oakland-based developer
has filed a preliminary application
with the city for 250 residential
units and 25,000 square feet of
commercial space at the site,
which is near the Fox Theater and
19th Street BART station. Sunfield
is looking to raise $45 million
through the EB-5 program for the
estimated $124 million project,
said Sid Afshar, the company’s
founder.
Read more
Related Story: Oakland: Tribune Tower Owner Hit with another Lawsuit
14. 14
EB5Projects.COM•AUGUST2015
Vietnam Doesn’t Grant Overseas
Investment Certificates to Facilitate
Acquisition of Green Cards
Vu Van Chung, deputy head of the Overseas Investment
Department under the Ministry of Planning and Investment
The Vietnamese Ministry of Planning and Investment does
not grant overseas investment certificates to local investors
as a necessary step for them to get green cards (permanent
residence) from the U.S. administration, a senior
official has said.
Vu Van Chung, deputy head of the Overseas
Investment Department under the Ministry of
Planning and Investment, made the statement to
Tuoi Tre (Youth) newspaper in response to claims
that Vietnamese people can obtain green cards only
by investing US$500,000 to $1 million in the U.S.
Read more
Related Stories
• Vietnam Firms Dodge Law in Transferring Money for
Immigrant Investor Programs’Applicants
• Services for Immigration Programs for Investors
Booming In Vietnam
The SEC’s Common Sense Approach
to Private Placements and General
Solicitation
Earlier this month the SEC issued concurrently (i) the
Citizen VC No Action Letter (in response to a request for
guidance authored by Mintz Levin) relating to the use of
506(b) for a private placement online and (ii) a series of
CDIs (compliance and disclosure interpretations) relating
to private placements under Regulation D. Reading the
Citizen VC No Action Letter together with the new CDIs, it
is apparent that the SEC is staking out a “common sense”
approach as to whether a private placement offering
involves a “general solicitation” (and is thus subject to the
more onerous requirements of the relatively new Rule
506(c)).
Read more
15. 15
EB5Projects.COM•AUGUST2015
Jay Peak Fails To Meet Water Quality
Targets in Settlement with State,
Environment Group
Natural Resources and the Vermont Natural Resources
Council, records show.
The state’s environmental enforcement agency has
imposed pollution control measures on development
at the resort since 2006, but several streams have not
fully recovered in the past decade, in part due to a wave
of expansion since 2009.
Despite the streams’ slow recovery, in April of last year
the state issued four new permits allowing Jay Peak to
discharge stormwater runoff into the impaired streams.
With help from Vermont Law School, the Vermont
Natural Resources Council (VNRC) appealed the
agency’s stormwater permits in environmental court.
Read more
More Latin Americans Investing in U.S.
Businesses for Green Cards
As Venezuela’s economic and political situation
became dire two years ago, David began looking at
options to immigrate to the U.S. along with his wife
and three children.
“In Venezuela, anything can happen at any given
moment,” said David, who still owns businesses in
Venezuela and who did not want his real name used
for his and his family’s security.
After consulting with various attorneys, he
determined the most viable option to secure green
cards for the entire family was to invest $500,000 into
a U.S. business.
A year and one month after initiating the process,
David’s wife and three teenage children all have their
green cards.
Read more
16. 16
EB5Projects.COM•AUGUST2015
Portals Ask: I’m doing a
506(B) Offering…Right?
This is a question that isn’t asked often enough. Violations are scary, as it
can mean forced rescission of your offering, regulatory fines and investor
lawsuits.
And I see platforms violating this every day.
506(b) has one primary benefit – the ability to avoid having to confirm
each investor’s accreditation (they are allowed to self-attest).
Read more
Overview of Latest August 2015 EB-5
Stakeholders Meeting with USCIS
On Aug. 13, 2015, USCIS held a stakeholder engagement for
individuals interested in the EB-5 program in Los Angeles
and via conference call.
The engagement was attended by several leaders of
the Immigrant Investor Program Office (IPO) of USCIS
(including its Chief, Nicholas Colucci), who all emphasized
USCIS’ prioritization on the integrity of the EB-5 program
as well as its potential to create jobs in the U.S. In FY 2014,
USCIS received nearly 11,000 I-526 Petitions, representing
$5.5 billion in future potential INVESTMENT. Already in
the first three quarters of FY 2015 (Oct. 1, 2014 – June
30, 2015), there have been significant increases in the
numbers of I-526 Petitions, I-829 Petitions, and I-924
Applications submitted to USCIS, likely due at least in part
to the upcoming Regional Center program Sept. 30, 2015
expiration date.
Read more
USCIS Releases Draft EB-5 Policy Guidance
Clarifying Immigration and Project Related
Issues Raised by Retrogression
Popularity of the EB-5 Immigrant Investor Program has
surged in recent years among foreign investors from
mainland China. As a result, the demand for EB-5 visas by
foreign investors born in mainland China has exceeded
total annual availability, and for the first time in the history
of the EB-5 Program, the U.S. Department of State imposed
a visa backlog for Chinese investors in May 2015. This
backlog, known as retrogression, impacts the amount
of time an investor must wait to receive their conditional
green card following Form I-526 approval. The current
backlog is approximately two years, though unless there is
a change in the law; it is anticipated to grow as demand for
EB-5 visas continues. Read more
17. 17
EB5Projects.COM•AUGUST2015
What Donald Trump Does Right
If Mr. Trump is to have any chance to build support beyond
his xenophobic base, he should embrace his born again
moment as a reformed big money donor.
There has long been a palpable
sense of frustration with politics
in the country that cuts across
every traditional partisan,
ideological, and geographic
measure. If you’re not an elite
in either party, you instinctively
know that money corrupts, that
handing elections over to the
biggest donors, often shrouded
in secrecy has left us saddled
with a set of professional
politicians who are focused on
winning an ever slightly bigger
piece of the pie for their campaign contributors rather than
thinking about making the pie bigger for all of us.
Read more
Investor Visas Get‘Lipstick on Pig’
Treatment
America’s investor-visa program is ripe for fraud, a new investigation finds —
but an immigration expert says the government’s proposed fixes fall far short of
tightening security.
“If one is worried, as I am, about the fundamental problem of selling visas to aliens,
which the EB-5 program does, then any modification of it is like putting lipstick
on a pig,”said David North, senior fellow at the Center for Immigration Studies.
Read more
Update on USCIS Active Termination of
Non-Compliant EB-5 Regional Centers
As previously reported, since January 2015 USCIS has
maintained a webpage listing the EB-5 Regional Centers
that have had their designations terminated. As of June 4,
2015, USCIS has terminated 34 Regional Centers.
A Regional Center’s participation in the EB-5 Immigrant
Investor Program can be terminated by USCIS for several
reasons under the regulations found at 8 CFR §204.6(m)
(6), including when it (1) fails to submit Form I-924A to
demonstrate its eligibility on an annual basis or on a
cumulative basis and/or as otherwise requested by USCIS;
(2) fails to promote economic growth as required; or (3)
engages in fraudulent activities.
Read more
18. 18
EB5Projects.COM•AUGUST2015
U.S. EB5 Investor Immigration Program:
Does It Have A Future?
Earlier this year, Brian Ross of ABC News wrote a series of
stories attacking the U.S. EB5 investor immigrant program
allegingitwasrifewithfraudandcorruption.Asanindication
of how wide-spread the problems were, ABC News later
revealed that a federal Government Accountability Office
report found,
“(F)or the first time … between January 2013 and 2015, the
SEC received more than 100 ‘tips, complaints and referrals
of possible securities fraud’connected to the EB-5 program,
and there are currently 59 open investigations by various
agencies into alleged EB-5 scams.”
Read more
Related Stories
• Congress Has 12 Days to
Address EB-5. Here’s How
It Could Play Out
• Key EB-5 Industry
Leaders Encourage
Congress to Reauthorize
the EB-5 Program
• Legislative Roundup:
Business-Related Immigration Bills in the 114th
Congress
Greater Cincinnati Casino Company
Grows With Hotel Acquisition
Union-based Premier Gaming Group has purchased a
Natchez, Miss. hotel along with an investment partner
A Cincinnati entrepreneur is growing his gaming company
with the purchase of its second property.
Premier Gaming Group of Union partnered with the
Virginia-based EB-5 investment company to form Casino
Holding Investment Partners LLC and purchase the 141-
room Isle of Capri Hotel in Natchez, Miss.
Read more
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Starwood to Open Dual-Branded Aloft
and Element Hotel Development near
Dallas Love Field Airport
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT)
together with Atlantic Hotels Group and Civitas Capital
Group today announced plans for a 224-room dual-
branded Aloft and Element Hotel development in the
fast-growing Love Field district in Dallas, Texas. Scheduled
to open in December of 2016, Aloft Dallas Love Field and
Element Dallas Love Field will anchor a new mixed-use
development just one mile from Dallas Love Field Airport
(DAL) and the Dallas Medical District.
Read more
EB-5 Regional Centers Naming
Conventions
Dear Stakeholder,
USCIS would like to remind you those EB-5 regional centers
and related commercial enterprises should not contain the
words“UnitedStates,”“U.S.,”“US”and“Federal”intheirnames.
If you use these words in the name of your regional center
or enterprise, you may falsely imply a relationship between
the entity using the name, and USCIS, DHS and the U.S.
government. Using such names on websites, promotional
and other marketing materials could also be considered
deceptive acts or practices and false advertisements, which
may violate federal laws governing unfair trade and false
advertisements. See 15 U.S.C. §§ 45 and 52.
Read more
US Clarifies EB-5 amid Continued
Chinese Demand
A policy memorandum earlier this week from
U.S. Citizenship and Immigration Services
provides much-needed clarity on how the
agency will treat what’s becoming a long
temporal gap between an EB-5 project’s
completion and an investor’s receipt of
a green card — a gap partly driven by a
continuing influx of investors from China,
lawyers say.
Read more
Related Story: NYC Real Estate Brokers Fear
China Buyer Slowdown
20. 20
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Sonho Do“Green Card”Vira Jogada De
Marketing Para Orlando City
Em busca de verbas para construção de
um novo estádio, time de Kaká pode ser
a saída para quem deseja migrar para
os Estados Unidos
O sonho de morar nos Estados Unidos
pode estar mais próximo do que você
pensa, e custa “apenas” 500 mil dólares
(R$ 1,75 milhão). Essa é a quantia que
o Orlando City, clube de Kaká, está
pedindo como investimento para a
construção de um novo estádio, em
troca do Green Card, documento que
autoriza a estadia permanente no
país, informa reportagem da revista
Infomoney.
Read more
Some Immigration Reform Is Coming!
Notwithstanding the years’ old gridlock in regard to
immigration reform, some significant changes will take
place on or before September 30th. It’s not that Congress
has had an epiphany. Several important immigration laws
will sunset on September 30th unless reauthorized by
Congress. If Congress does nothing, four major immigration
programs will come to an end: E-Verify, the Conrad State
30, EB-5 and the Special Immigrant Non-minister Religious
Worker programs.
Read more
Time De Kaká Vira Meio Para Brasileiros
Obterem‘Green Card’
OrlandoCityvendecotadoestádio
para investidores conseguir visto
Visando construir seu novo
estádio, o Orlando City, equipe
do brasileiro Kaká na MLS
(Major League Soccer), a liga
de futebol dos Estados Unidos,
disponibilizou, recentemente,
cotas de 500 mil dólares (R$
1,75 milhão) para investidores
interessados em ajudar o projeto.
O curioso é que muitos brasileiros
vêm aderindo à iniciativa e o
objetivo não é necessariamente
os assentos permanentes ou
ingressos que o clube oferece,
mas sim o cobiçado‘green card’.
Read more
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Green Valley Hospital- EB-5 Saving Lives
Wealthy investors from outside of the U.S. are pouring
millions of dollars into Arizona development projects,
including the soon-to-open Green Valley Hospital, in
exchangeforgreencardstolegallyliveintheU.S.Difficulties
securingfinancingduringtherecessionattractedMcDowell
Enterprises, the developer of the Green Valley Hospital, to
the federal EB-5 immigration program, said David Wanger,
CEO of Green Valley Hospital. The hospital, which opened
on June 1, secured $56 million of the $79 million in capital
needed for the hospital project from foreign investors, most
of them from China, Mexico and Vietnam, Wanger said.
Read more
Realising the Dream to Become a World
Class Citizen
It is the desire of every ambitious and forward-looking person to have a successful
business and even aspire further to be recognised beyond the shores of the country
andultimatelybeaccordedaspecialstatus,especiallyasacitizenofaforeigncountry.
Kunle Aderinokun writes about programmes offered by a specialised immigration
firm tailored towards assisting individuals in making a giant leap to realise such
dreams
Have you ever dreamed of acquiring a dual citizenship? Have you been looking
for a safe haven to invest your idle funds and get huge returns or benefits on
your investment? You may not need to search further as the opportunity is now
somewhere close to you.
Read more
Firm Storms Nigeria With Juicy US,
Canada Permanent Residency Offers
JTH Lawyers, a specialised immigration services firm,
has offered to assist Nigerians willing to acquire foreign
citizenship through an array of immigration programmes
within its expertise.
Three of such programmes, tailored for high net worth
individuals (HNWI) are Quebec Immigrant Investor
Programme (Canada Permanent Residency), US EB5 (US
Employment-based Programme)and Antigua & Barbuda
Citizenship are currently available.
Read more
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An Inside Look at the Three Proposed
EB-5 Authorization Bills
Representative Zoe Lofgren, Ranking Member of the House
Judiciary Committee, Subcommittee on Immigration
and Border Security, and Representative Luis Gutiérrez
introduced H.R. 3370, the Entrepreneurial Business Creating
Jobs Act of 2015. This is the third bill introduced in 114th
Congress that focuses on reauthorizing the EB-5 program.
In January 2015, Representatives Mark Amodei (R-NV)
and Jared Polis (D-CO), introduced H.R. 616, the American
Entrepreneurship and Investment Act. In June 2015, The
American Job Creation and Investment Promotion Reform
Act, S. 1501, was introduced in the Senate by Senate
Judiciary Committee Chairman Charles Grassley (R- IA)
and Senate Judiciary Committee Ranking Member Patrick
Leahy (D-VT).
Read more
Chinese Investors, Immigrants Sue LA
Investment Firm for Misusing Money
Chinese and local investors filed a class action lawsuit this week
claiming an investment firm that targeted them through Chinese-
language media and investment seminars for oil exploration instead
used some of the money to buy a luxury home in Fremont and other
personal expenses.
They’re seeking damages from Luca International Group LLC, which
describes itself as an“upstream energy company”on its website.
Read more
Opera House Revival
Calls on Foreign Cash
Part 4 of the history of Fayette’s “New Opera House” series is titled
“Historic Fayette Priority LLC.”
For the past week in this space, you have read about the past of the
three-story brick building that sits abandoned on the southeast
corner of the Fayette square, a relic of failure overshadowed by the
resplendent Howard County Courthouse, just a few yards to the
northwest.
Read more
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Miami Taps EB-5 Visa Program
to Help Fund Affordable
Housing
Chinese seeking U.S. residency help finance new construction
Miami is turning to the Chinese to help solve its affordable-housing problem.
Last week, Miami Mayor Tomás Regalado called on housing developers to build more
apartments targeted to teachers, police officers, young professionals and senior citizens—
groups that have been on the sidelines during the city’s luxury-housing boom.
Read more
Chinese, Mandarin-Speaking Realtors in
Hot Demand
SoFla firms are expecting and preparing for an increase in
Chinese real estate buyers
In an effort to reel in investors from China, South Florida
developers and brokerage firms are recruiting real estate
professionals who are fluent in Mandarin and are of Chinese
descent. At the same time, Chinese-owned real estate
companies are establishing offices in Miami to capture a
share of the Asian buyers’market.
Read more
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Maine Considers Program to Attract
Foreign Investors by Offering
Permanent U.S. Residency
A similar program in Vermont has generated $500 million
worth of investment in ski areas and other projects.
The LePage administration is considering establishing a
state-run program that would help Maine businesses lure
foreign investors by giving those investors permanent U.S.
residency. Maine would be the third state, after Vermont
and Michigan, to create such a program, which allows
foreign nationals to obtain a green card if they invest in
projects that create jobs.
Read more
Related Story: Maine DECD Says It Will Consider Starting
State-Run EB-5 Program
Commercial Real Estate Outlook
Tempered by Cyclical and Interest Rate
Concerns,“External Threats”
Despite Strong Fundamentals, Capital Flows, Industry Execs
See Growth Plateauing
Commercial real estate market fundamentals remain
strong — amid continued, gradual improvement in the
broader U.S. economy — yet participants in The Real Estate
Roundtable’s latest quarterly “Sentiment Survey” remain
uneasy about a multitude of overseas threats, expected
monetary policy tightening, and typical cyclical issues.
Reflecting this sense of uncertainty — which has persisted
through six-plus years of economic recovery — and a slight
softening in expectations for future growth, the surveys
“Future Conditions Index” has fallen 11 points since this
time last year (from 67 in Q3-2014 to 56 in Q3-2015).
Read more
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International Airport Planned In
Newport
Bill Stenger, a developer in the Northeast Kingdom, unveiled plans
for a 10,000-square-foot airline terminal, warehouse and flight
design assembly facility at the Newport State Airport in Coventry
last week.
The $20 million facility is a key part of Stenger’s master plan for
more than $600 million worth of developments in the region,
including a Renaissance office building in downtown Newport,
a $300 million expansion of Jay Peak ski resort, a $110 million
biotech plant in Newport and a $198 million overhaul of Q Burke
ski resort in East Burke.
Read more
EB-5 Processing Times: Continued
Delays with I-526, I-829 and I-924
Adjudications
On August 3, 2015, United States Citizenship and
Immigration Services (USCIS) published updated
processing times for EB-5 immigration benefits. The news
continues to be bleak. USCIS is taking at least 13 months
to review and adjudicate I-526 petitions. Applications for
regional centers and similar filings (e.g., EB-5 exemplars) are
now also taking in excess of one year in many cases, though
the stated processing times for I-924 cases is 11.5 months.
Read more
Finally, Your Deal Might Get Foreign
Money
Foreign capital has finally gotten comfortable with
Chicago—it’s accounted for $2B in Chicago office building
deals in the last year and a half alone. So far, it’s been limited
to core deals, but it’s starting to trickle through the market.
That was the main takeaway from Bisnow’s The Real Estate
Money Machine: Chicago’s Capital Markets Power Brokers
event this morning, where 220 joined us at the Trump
International Hotel & Tower to see the women who rule
Chicago’s capital stack discuss current trends influencing
the debt and equity markets and what they predict will
happen in the future.
Read more
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National Company Buys EB5 Funded
Country Home Products
A publicly traded company has acquired a company
that manufactures power tools in Vergennes and
Winooski.
Generac Holdings acquired Vergennes-based Country
Home Products on Aug. 1 for an undisclosed sum.
Country Home Products started in 1985 making log
splitters and machine chippers, and owns brands such
as DR and Neuton.
Read more
Aemetis, Inc. Reports Second Quarter
2015 Financial Results
Aemetis, Inc. (NASDAQ: AMTX), an advanced renewable
fuels and renewable chemicals company, today announced
its financial results for the three and six months ended June
30, 2015.
“Our US ethanol business delivered sequential
improvement in profitability and revenue,” stated Eric
McAfee, Chairman and CEO of Aemetis.“Our India biodiesel
businessgrew161%sequentiallythroughthedevelopment
of a sustainable domestic customer base, which was made
possible by key government policy changes earlier in the
year. Continuation of this rapid customer acceptance and
adoption places us on a strong path to year over year
revenue growth.”
Read more
Who Can Source Investors for EB-5
Projects: The World of Finders,
Consultants, Attorneys, and Broker Dealers
Use of EB-5 as part of the capital stack for an EB-5 project is a
highly complicated prospect. Identifying the right Regional
Center or forming a Regional Center and structuring the
project so that it is compliant with the myriad of USCIS/DHS
rules are a daunting endeavor.
The other very real concern for these projects is how to
actually find the investors and fill the EB-5 raise. Most of the
EB-5 investors come from China, but other countries are
beginning to also see their citizens apply for the U.S. EB-5
program.
Read more
27. 27
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Court Oks‘Receiver’to Oversee
Troubled Palm House
He will oversee long-delayed project,
devise‘coherent plan.’
A circuit court judge has agreed to
the appointment of Delray Beach
Mayor Cary Glickstein as a “receiver”
to oversee the beleaguered Palm
House condominium-hotel project,
which has been under construction
for several years on Royal Palm Way.
Palm Beach County Judge Donald W.
Hafele appointed Glickstein as part of
an agreement among several parties
to resolve an internal ownership
dispute that had raged since last
fall. The appointment slammed the
brakes on multiple legal actions filed
at the county courthouse involving
key Palm House players.
Read more
New York Law Firm Wraps Up $1B in
EB-5 Deals
New York-based law firm Rosenberg & Estis closed seven EB-5
construction mezzanine loans totaling $1 billion in the last year,
Commercial Observer can first report.
“EB-5 lending is an extraordinarily powerful tool for developers,
providing greater control, a more attractive rate and greater long-
term upside,”Eric Orenstein, a member at the law firm who worked
on the financings, said in remarks provided to CO.
Read more
An Economic Recovery, Brimming With
Industrial Complexes, in Southern
California
The Inland Empire could be considered Southern California’s backlot,
with its vast warehouse complexes and staging areas.
Typically defined as the region east of Los Angeles and Orange
Counties, and encompassing San Bernardino and Riverside Counties,
this area of industrial development has been on a long march to
recovery since the 2008 financial crisis.
Tens of millions of square feet of warehouse and logistics space have
been built since 2011, and tens of millions more are on the way.
Read more
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EB5 Investors Magazine Article on
Group 32: Dakota Spirit
Forsomepeople,theirpassionleadsthemtoaspecific
job. For others, like Cathleen O’Higgins, however, her
job led her to discover a passion.
O’Higgins is the health, safety, and environmental
coordinator at Dakota Spirit AgEnergy, a company
in the ethanol industry. In this position, she works to
ensure the safety of the employees and the workers.
On the environmental side, she oversees compliance
with OSHA and the EPA.“I have a degree in exercise
science, and I kind of fell into health and safety
when I moved to Jamestown,” said O’Higgins, who
is currently pursuing a master’s degree in personal
hygiene.
Read more
Immigration & Business Expert, Dr.
Gregory Finkelson, Heading to China
Dr. Gregory Finkelson, President of American Corporate Services, Inc.,
announces that he will be traveling to China in September to follow-up on
contacts established during the Silicon Valley Mayors’ China Trip in May of
this year.
During his 12-day visit, Dr. Finkelson will be meeting with investors, and
CEOs of prosperous, high tech companies in Beijing, Shanghai, Shenzhen
and other cities yet to be announced. In addition, his schedule includes
meetings with potential new clients, Partners and Agents.
Read more
Rockford Hotel Plan Pins
Hopes on Chinese Investors
A developer planning to turn a former
factory in downtown Rockford into a
hotel is trying to attract Chinese investors
looking to get U.S. green cards to help
cover the costs.
Gary Gorman plans to spend $67 million
to turn the Amerock-Ziock building into
an Embassy Suites hotel.
He told the Rockford Register Star that he
and Mayor Larry Morrissey met the first
of those investors at a presentation they
made in Shanghai, China, and last month.
Read more
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Todd Wilcox Says Republican Voters in
Florida (Will) Like What He Has to Offer
Orlando-based entrepreneur Todd Wilcox
says that it was around April of last year that
he first thought about the possibilities of
running for U.S. Senate, a considerable feat
to undertake for a lifelong nonpolitician in
the nation’s third-largest state.
He didn’t go into exploratory mode until this
past April, though, after Marco Rubio made
it official that he wouldn’t be running for
re-election to his seat, and the presumptive
GOP front-runner to replace him, Jeff
Atwater, stunned the Florida political world
by announcing he also would not run.
Read more
Should You File an I-924“Exemplar”
Petition before September 30th?
Since the introduction on June 3, 2015
of the bipartisan American Job Creation
and Investment Promotion Reform Act by
Senators Patrick Leahy (D-Vt.) and Chuck
Grassley (R-Iowa) the Grassley / Leahy Bill,
there is increased discussion on whether
potential projects should file an I-924
“exemplar” petition prior to September
30th, 2015, the date on which the Regional
Center program is set to expire, and the
impetus for the bill. While most EB-5
practitioners understand that changes to
the program are imminent, there remains
debate on what actions are most prudent
to pursue in the short term to address the
upcoming changes.
Read more
Coventry Airport to Grow As
Developers Look To Attract Visitors,
Residents to NEK
Northeast Kingdom developer Bill Stenger has unveiled the design for
a new airport terminal to be built at the state airport in Coventry.
Stenger showed the architectural rendering at a meeting this week of
the Northeast Kingdom Airport Committee, a group of policy makers
and citizens overseeing changes to the runway and adjacent buildings.
The terminal is on state land but the building is owned by Stenger
and his partner, Ariel Quiros Jr. They have been tapping the federal
EB-5 program, which offers visas for investments in this and other
economic developments in northeastern Vermont. Stenger says a
good international airport and amenities are crucial to all the other
projects, including ski resorts, a bio-tech lab and a small aircraft
manufacturing plant at the airport.
Read more
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EB5 Capital Receives USCIS Approval
The United States Citizenship and Immigration Services
(“USCIS”) has begun to issue I-526 Petition approvals for
investors in EB5 Capital’s Dock 79 (formerly known as
Riverfront at the NavyYard) mixed-use project in the Capitol
Riverfront neighborhood of Washington, D.C.
EB5 Capital today announced that the United States
Citizenship and Immigration Services (“USCIS”) has begun
to issue I-526 Petition approvals for investors in EB5 Capital’s
Dock 79 (formerly known as Riverfront at the Navy Yard)
mixed-use project in the Capitol Riverfront neighborhood
of Washington, D.C. The I-526 Petition is the first step in
the process for immigrant investors seeking to become
permanent residents of the United States by investing
through Regional Centers in new, job-creating enterprises.
The initial I-526 Petition approval confirms that the Dock
79 project meets the federal government’s economic
development and job-creation requirements.
Read more
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Project Updates
2nd Batch of Post Larvae
On Tuesday September 2nd, Alpine Shrimp LLC will be adding a 2nd batch
of Post Larvae Shrimp to their proof of concept facility. This is being done
in order to test their alternating tank theory that shrimp will be able to be
constantly available vs. the current train of thought that shrimp must be
raised in one harvest cycle, and are usually only available once every 4 weeks
or so.
Read more
Stenger’s‘Renaissance’Raises Hope —
and Skepticism — in Newport
In March, wrecking crews demolished one of four
commercial blocks in downtown Newport. Where a four-
story apartment and commercial buildings once stood,
only cellar holes remain.The demolition, by Jay Peak Resort
president Bill Stenger, was touted as a key step toward the
economic rebirth of this city on the shores of picturesque
Lake Memphremagog, just miles from Canada. A colorful
banner tied to a chain-link fence around the property
known as Renaissance Block hints at a huge project to
come.
But on closer inspection, the banner is missing something:
any mention of future plans. There is no “coming next” or
“future home of”notice — only photos of the block in the
decades before it became just a hole in the ground.
Read more
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SLS Las Vegas Suffers Net Loss of $48.6
Million in Second Quarter Of 2015
The SLS Las Vegas reported a net loss of more than $48.6
million in the second quarter of 2015. According to a
securities filing, the total net loss for the first six months of
the year reached $83.9 million.
Stockbridge/SBE Investment, the resort’s owner, said
that the SLS had incurred net losses as well as negative
operating cash flows “for the six months ended June 30”
in the filing with the Securities and Exchange Commission.
Stockbridge Capital Partners, a California based private
firm that owns 90% of the company, revealed it has funded
capital contributions to the casino-hotel of more than
$28.1 million through June. According to the information
provided in the filing, Stockbridge has intentions to
transfer SLS Las Vegas enough funds through December in
order to meet the establishment’s obligations.
Read more
Related Stories
• SLS Las Vegas Loses $48.7 Million in Second Quarter
• SLS Las Vegas Dropping Money like It’s Hot, But Parent
Stockbridge Committed to Keeping Property Afloat
• SLS LasVegas Reports a Loss of $48.7 Million in Second
Quarter
• SLS LasVegas Net Loss Reaches $48.6 Million in Second
Quarter
U.S. Government Approves EB-5
Investment for Caffe Primo San Diego
“WearethrilledabouttheI-526approvalforCaffe
Primo San Diego,” said Richard Shinn, President
of PDC Capital Group. “This is a wonderful
project that will enhance the economic vitality
of downtown San Diego and create new jobs,
which is always the goal for EB-5 investment.”
PDC Capital Group announced that United
States Citizenship and Immigration Services
have approved an I-526 petition filed by an
investor in a new Caffe Primo restaurant in San
Diego.
Read more
The Westin Downtown
Cleveland EB-5 Project
CiF’s third EB-5 project was the transformation of the
former Crowne Plaza hotel at the corner of East 6th Street
and Saint Clair Avenue in downtown Cleveland into a new
Westin Hotel. The Crowne Plaza had long been in disrepair
and was in desperate need of renovation, reflagging the
hotel as a Westin – complete with new amenities and
significant upgrades – was an excellent way to prevent the
building from sliding into further dilapidation and disuse.
The need to preserve the hotel at the corner of East
6th and Saint Clair was only made more pressing by
the construction of the
Cleveland Convention
Center and attached
Global Center for Health Innovation, which was underway
just a block to the east of the property.
Read more
Related Stories
• The Westin and Cleveland’s Downtown Revitalization
• The Westin Downtown Cleveland: Why EB-5?
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PhoenixMart: VIP Tour
Highlights Progress
Opening about 1 year away, company says
Convergence is a word the folks at PhoenixMart use quite
a bit. Another word they want to circulate more in their
vocabulary is transparency.
“We are certainly committed to the city of Casa Grande
to be transparent and to communicate as openly and
honestly as possible,” said Brian Wright, PhoenixMart’s
marketing director.
Representatives of AZ Sourcing, PhoenixMart’s parent
company, invited a number of community leaders to the
PhoenixMartconstructionsiteTuesdaytoanswerquestions
and give an update on when the massive wholesale trade
center might open.
Read more
City Council: Rockford Hotel Loans
Delayed by Housing Fray
An application for federal loans
tied to two downtown hotel
developments was pulled into
Rockford’s deepening public
housing fray Monday.
And it was pulled out of City
Council for at least two weeks.
Gorman & Company and Joseph
James Partners have asked the
city to help them land $3 million
each in Section 108 loans for their
projects. Gorman aims to turn the
former Amerock building into a $67
million, 150-room Embassy Suites.
Joseph James wants to redevelop
134 N. Main St., into a $16.4 million,
76-room boutique hotel.
Read more
Chinese Firm, Local Partner Start
Bellevue Apartment Project
Tom Yang, left, president of the Chinese company Create World
Group, stands with local developer and partner Kevin Daniels at
the site in downtown Bellevue that will become Create World’s
first.
A private Chinese real-estate company broke ground Monday in
downtown Bellevue on a six-story, 162-unit apartment building,
and the first of several it plans on the West Coast.
Read more
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Crain’s Detroit Business from July 21,
2015
The site of the old Detroit Artillery Armory in Oak Park is
being cleared to make way for a new 300,000-square-foot
FedEx Ground distribution center.
FedEx Ground already has distribution centers in Livonia,
Pontiac and Ann Arbor. They are comparable in size to the
planned Oak Park center.
“We are growing in the Detroit area; it is an important
market for us,” said FedEx Ground spokesman David
Westrick. “We located in Oak Park to be close to major
highways, a work force and businesses.”
Read more
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Douglas Development Secures Uline
Construction Financing
Douglas Development Corporation, which began work to
reshape D.C.’s historic Uline Arena this spring, has secured a
total of $94 million in construction financing for the mixed-
use project.
That will cover about 75 percent of the project’s expected
cost. Douglas Development is covering the rest.
Natixis Real Estate Capital has provided a $75.5 million
construction loan. EB5 Capital is providing $18 million in
preferred equity.
The Uline overhaul is expected to be completed in the fall
of 2016.
Read more
Related Story: Douglas Development Takes $75M Loan
from Natixis for Historic D.C. Conversion Project
Hotel Astor, Iconic Art Deco Property in Miami
Beach, Now Approved Under the EB5 Program
to Undergo Multi–Million-Dollar Refurbishment
Hotel Astor, managed by “true Boutique
hotel” management company STEM™
Hotels, is announcing a 2 million dollar
refurbishment program to enhance and
reposition the property, a landmark 1936
Art Deco hotel located in the heart of South
Beach, Miami.
The hotel aims to recapture its iconic status
on Miami Beach by restoring all guest rooms
& suites to their original glory while adding
modern amenities and services befitting of
a high quality boutique property. The Hotel’s
aim is to bring back the glamorous South
Beach of the Art Deco days, through carefully
curated cultural programs and events.
Read more
Related Story: Hotel Astor in Miami Beach
Granted EB-5 Status
Zenith Capital, Village Concepts Plan
$25 Million Project for Seattle
Zenith Capital, a company that provides alternative
financing for the senior housing industry such as EB-5
funding, is teaming up with Federal Way, Wash.-based
Village Concepts to build a new 100-unit, $25 million
assisted living and memory care facility in Seattle.
The Linden Village Assisted Living Community will be
constructed at 13524 Linden Avenue North in north
Seattle’s Bitter Lake neighbourhood.
The community will offer 79 units of assisted living in
studio, one- and two-bedroom floor plans; and 21 spaces
available in the building’s memory care wing.
Read more
Related Story: Zenith Plans LindenVillage to Meet Growing
Demand for Senior Housing
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Houston EB5 Presents Arabella
– Another Opportunity to Invest
and Gain US Citizenship
On the backdrop of the success of
the just concluded capital-raising
partnership for the Marlowe residential
project in Houston Texas, Houston EB5
has yet again partnered 3INVEST for the
capital raising drive in the Africa region
for another real estate investment
opportunity – a residential project,
ARABELLA. Speaking at the press
briefing the Chief Executive- 3Invest,
Ms. Ruth Obih stated how excited her
team is to see yet another new project
from Houston EB5. “This is the 2nd
project this year and the 3rd project we
have been privilegded to exclusively to
promote in the region she says”and we
glad that investors are embracing the
EB5 Investment program.
Read more
Year-Round Market Still Lies in Flux
The concrete walls are exposed and the floors unfinished.
The wide-open 8,500-square-foot future year-round
farmers market in Everett is bare but for a few models
produces racks and a smattering of construction leavings.
But ask Alicia Moreno, the project’s general manager, for
a tour and the gray place becomes vibrant as her voice
echoes through the building, filling it with a unique vision
of a year-round, fresh, local food emporium.
“It is real. The thing is coming to life,” Moreno said. “We’re
looking to open sometime in October or November at this
point.”
Read more
Oakland: Tribune Tower Owner Hit with
another Lawsuit
The owner of the iconic Tribune Tower and several other
downtown Oakland office buildings is facing a lawsuit
from a business partner accusing him of diverting funds
from their enterprise to help amass his growing real estate
portfolio.
The lawsuit, filed last month in Alameda County Superior
Court, marks the second time in the past year that Thomas
Henderson and his sons, Matthew and Michael, have been
sued by an estranged partner.
Working with his two sons,
Henderson, 66, has made a
name for himself in recent
years for his participation
in the federal EB-5
program in which wealthy
foreigners, primarily from
China, bankroll projects
that create domestic jobs
in exchange for permanent
residency in the U.S.
Read more
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EB5Projects.COM•AUGUST2015
CAFFE PRIMO SAN DIEGO THE DISTRICT AT LINWORTH
ALPINE SHRIMP
MIXED-PURPOSE 50 STORY TOWER
DENVER, COLARADO
MODERN LOFT APARTMENTS,
GREENVILLE, SOUTH CAROLINA
HYATT PLACE HOTEL, ST. PAUL,
MINNESOTA
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EB5Projects.COM•AUGUST2015
Plastiblok, Ltd. Fox Rothschild LLP Scannell Properties
United States Regional Economic
Development Authority (USREDA) Spearhead Capital WTJ Overseas Consulting
Clarity Development
Company
Jaensch Immigration Law
Firm DARGEY
47. 47
EB5Projects.COM•AUGUST2015
1. Question regarding obsolete TEA letters
2. Question regarding operation of Regional Center out of its approved geographic area
3. What visitor visa would I apply for before the EB-5 visa to go to a U.S. territory?
4. Question in Economic Impact Report asked during USCIS conference
5. How can I apply for EB-5 if I already applied for an investor visa in another country?
6. How EB-5 funds are usually returned after I-829 approval?
7. How can someone without an employment history apply for EB-5?
8. Question on Job creation asked during USCIS conference
9. How will EB-5 visa retrogression benefit investors from other countries?
10. Question on Direct investment asked during USCIS conference
11. Question on investment capital asked during USCIS conference
12. Question on retrogress asked during USCIS conference
13. Question on SEC involvement asked during USCIS conference
14. What happens if a conditional permanent resident leaves the U.S. for six months?
15. Questions in regards to TEA asked during USCIS conference
Questions
48. 48
EB5Projects.COM•AUGUST2015
Events
4TH ANNUAL CALIFORNIA EB-5
CONFERENCE
THE REAL ESTATE MONEY MACHINE: CHICAGO’S
CAPITAL MARKETS POWER BROKERS
BHBA LUNCHEON: EB-5 VISA FUNDAMENTALS FOR REAL
ESTATE AND NON-REAL ESTATE PRACTITIONERS
USCIS EB-5 ADJUDICATION TRENDS: I-526/I-829
PETITIONS & I-924 APPLICATIONS
EB-5 INVESTORS SUMMIT: REPRESENTING
EB-5 INVESTORS & REGIONAL CENTERS
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EB5Projects.COM•AUGUST2015
Litigation
Since February 2012, defendants Lobsang Dargey; Path America, LLC; Path America SnoCo LLC;
Path America Farmer’s Market, LP; Path America KingCo LLC; Path America Tower, LP; Path Tower
Seattle, LP; and Potala Tower Seattle, LLC (collectively, “Defendants”) have exploited a federal visa
program to defraud investors seeking investment returns and a path to United States residency. To
date, Defendants have fraudulently raised at least $125 million through their sales of securities to
250 investors and collected at least $11 million in additional fees.
Read more
SEC VS PATH AMERICA, LLC, ET AL
Zhao argues that the denial of his Petition violated the Administrative Procedures Act, and
requests that the Court direct the Government to approve his Petition. On September 26,
2012, USCIS denied Zhao’s I-526 Petition. The USCIS reasoned that Zhao failed to demonstrate
sufficiently that: (1) his required capital investment had been, or would be made available to
Berkeley Dog; (2) his investment in Berkeley Dog resulted in creating the required number
of full-time jobs for qualifying employees; and (3) that Berkeley Dog had a comprehensive
business plan sufficiently detailed to establish the requisite job- creation potential.
Read more
LIANMING ZHAO V. JANET NAPOLITANO, ET AL.
Read here
KHALID AL-HUMAID V. USCIS
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