The U.S. Chamber of Commerce, the EB-5 Investment Coalition and the Real estate Roundtable gathered together for a brief meeting on October 14th 2016. The purpose of this meeting was to discuss and inform House and Senate on the inner workings of the EB-5 Investment Program and the possible outcome of the December 9th expiration on the community. The panel was moderated by the Senior Vice President and Counsel at the Real Estate Roundtable, Duane Desiderio. The discussion was initiated by mentioning the basic eligibility requirements to qualify for the EB-5 Visa and the projects that use EB-5 investments, such as developments in rural areas, infrastructure projects and charter schools, etc.
The founder of Education Fund of America, Gregory Wing, mentioned at the briefing that his fund has utilized the EB-5 capital at several occasions to help finance 26 charter schools across 7 different American states. Mr. Wing also discussed that the lack of the EB-5 investment would have adversely impacted the schools and they wouldn’t have existed, had it not been for the EB-5 investments. He further stated that this would also affect all those children who require schools that cannot operate without sufficient funding.
The founder and President of EB-5 Capital, Angelique Brunner also spoke at the briefing. She described how the projects in Washington D.C. have transformed the economic landscape. She further stated how the banks refused to lend money due to the recession in 2007 and that is when she started using the EB-5 Investments. Ms. Brunner explained that the use of EB-5 capital had allowed the company to fund projects which earned them awards from the Urban Land Institute.
Moreover, Dan Healy, Chief Executive Office of Civitas Capital based in Dallas Texas, stated at the briefing that the EB-5 program costs US taxpayers nothing, and the same investors who initially invest in the EB-5 program, often come back to reinvest in other projects in the United States which have no connection with immigration .
It can be said that during the briefing all the reasons for sustaining the EB-5 Immigrant Investor Program were discussed. The briefing concluded with stimulating questions and discussions from House and Senate staff members.
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