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Monday, December 31, 2012

Vermont Ski Resort reported by New York Times

 
"Lure of Green Cards Brings Big Investments for Remote Resort in Vermont" reports on the large ski resort in northern Vermont: Jay Peak Ski Resort. Jay Peak has used the EB-5 program to help finance the largest economic development that the state of Vermont has ever seen. The scale of the project will bring many new jobs and business to an area that was once non-existent. Hotels, Casinos, and Resorts like Jay Peak are real estate developments projects that EB-5 investors are searching for.



Operational Guidance for EB-5 Cases Involving Tenant-Occupancy




[Source:USCIS]  

Dear Stakeholders, 

In May 2012, USCIS published operational guidance on EB-5 adjudications involving the tenant-occupancy methodology which explains how USCIS policy on deference to prior EB-5 adjudications applies in the context of determinations regarding the reasonableness of an economic methodology. Since this guidance was issued, USCIS has carefully considered responses to Requests for Evidence (RFEs) as well as input from other relevant government agencies and has issued further operational guidance to govern the adjudication of these cases.  This guidance will be applied to pending cases involving the tenant-occupancy methodology, as well as cases filed on or after the date of this guidance.  

For more information, please see the attached link :
Kind Regards,
U.S. Citizenship and Immigration Services (USCIS)


Thursday, December 27, 2012

NYSERDA - New Construction Program and updates


[Source: Jim BittkerGovernor Cuomo recently announced the results of the second round of State aid and incentives for economic development projects funded through the Regional Economic Development Councils.  The Finger Lakes region will get $96.2 million -- the highest total awarded to any of the 10 economic development councils!

NCP funding will continue through the next three years
The current round of funding for the NYSERDA New Construction Program will continue to be available on a first-come, first-served basis through December 31, 2015, or until funding is exhausted, whichever comes first. Sustainable Performance Consulting, Inc. will continue to be the sole administrators of this Program throughout the State.

Outreach Project Consultants (OPCs)
To be 100% clear: My colleagues and I are under contract with NYSERDA to help affect a permanent transformation in the way new and substantially renovated buildings are designed and constructed.  Our Outreach Project Coordinators are engineers and architects who work directly with NCP applicants and their project teams, helping to maximize the Program to your greatest benefit.  There is no cost whatsoever for our assistance!  

Cleaner, Greener Communities Program
I have been receiving an increasing number of questions about how the Cleaner, Greener Communities Program works and what is involved with sharing ideas for more sustainable development and smart growth practices. This Program is supported by more than $100,000,000 in funding.


Contact Jim Bittker for more information on NYSERDA @ 585-943-7604 or email: jbittker@spc-ny.com




Wednesday, December 19, 2012

EB-5 Job Creation: Do Construction Jobs Count???


The question of do construction jobs count arises quite often when discussing how the EB-5 program must create U.S. jobs for the usage of the investment through foreign nationals for development projects. Construction jobs that entail over 30 hours per work week for several years would fall within the meaning of “continuous” and therefore count toward the EB-5 job creation requirement. The article below, in short, explains how construction jobs are considered "full-time" under the EB-5 Immigration Investor program.

[Source: EB5 Exclusive] Article HERE -  EB-5 Job Creation: Do Construction Jobs Count???






Monday, December 17, 2012

Creating US Jobs and changing lives

 [Courtesy of:ByCommunications/Youtube]

The United States has always been a melting pot for foreign immigrants that dates back to our forefathers. The beliefs and ideals of capitalism made the United States what it is today, free to achieve dreams and aspirations. An EB-5 investment is used for the sole use of creating US JOBS and economic development in the United States. Foreign entrepreneurs looking to gain United States residency can use the USCIS EB-5 Immigration Investor Visa program.

Some key benefits of a EB-5 Visa program are:
· Any family member with an EB-5 Green Card can enter the U.S. anytime and stay as long they wish.
· Your spouse and unmarried children under the age of 21 will have admittance to the U.S.
· As a permanent resident, you and your family can benefit from lower college tuition costs and the best education in the world.
· You and your family may work, live, and establish a business anywhere in the United States.
·  Permanent residency requires no renewal or re-application, except for a processing fee.



For more information on the USCIS EB-5 Immigration Investor program and investment options,
 
2815 Monroe Avenue, Suite 2100
Rochester, New York 14618
Tel: (866) 763-6515
                                                         EMAIL HERE or WEBSITE HERE




Tuesday, December 11, 2012

New EB-5 Program Office to be Established in Washington, DC



/Mintz Immigration Law)


During today’s EB-5 Stakeholder’s Meeting, USCIS announced the creation of a new EB-5 Program Office in Washington, DC. The Chief of the new EB-5 Program Office will report to the Deputy Director of USCIS. This is a significant realignment, which USCIS intends to accomplish within four to six months. According to USCIS, this reallocation of resources is targeted at ensuring that the Program Office addresses adjudications more effectively. The new EB-5 Program Office will handle adjudications, legislative affairs and policy, in addition to having full-time staff devoted to identifying fraud. One goal of the new EB-5 Program Office will be to move from the current RFE (“request for evidence”) model to a more dynamic email approach, where adjudicators handle complex communications directly with the public. Direct communication with decision-makers might result in fewer denials and RFEs over issues that could be resolved through the EB-5 Program Office communicating with an attorney.

Currently, USCIS adjudicates EB-5 petitions and benefits at the California Service Center. Processing times for benefits are very unpredictable. This leaves investors insecurely waiting, at times for more than six months, for resolution of their cases. Hopefully a new EB-5 Program Office will allow USCIS to accomplish the goal of a more efficacious and fair adjudications process. Until USCIS announces a change to filing procedures, the status quo is in place and all filings should continue to be channeled to the California Service Center. With the new EB-5 Program Office, USCIS will have an ambitious goal of adjudicating EB-5 benefits in 90-120 days.


Friday, December 7, 2012

Steps to consider when taking on a direct EB-5 with franchise store(s)


(SOURCE: EB-5 Center) Let's say you are considering pursuing a direct EB-5 case based on a planned establishment of new franchise stores. It could be a franchise store or a non-franchise store. Chronologically, the below are the steps you should take.

- How many franchise stores do you have to establish to meet the 10 new (excluding you and your family members), full-time positions? If one store will require only 6 full-time positions, then you better plan on setting up at least two (2) stores to meet the job requirement.

- Can you establish the required number of NEW, full-time positions within 3 years from now? In addition to 2 years of conditional permanent resident time period, it will take additional time to file and get I-526 approved, complete the IV consular processing or I-485 adjustment of status and acquire CPR status. Therefore, you have at least 3 years or maybe even 3.5 years to create requisite jobs. 

- Will the store(s) be located in a TEA area? You have to find out how the agency in your state interprets the concept of high unemployment area or rural area and get the evidence of TEA from the appropriate state agency.

- Will one store be located in a TEA area and another store be located non-TEA area? If so, you better be prepared to invest at least $1 Million USD in the two stores, and then structure your New Commercial Enterprise (NCE) entity to comply with the USCIS definition of the NCE.

- Will your EB-5 funds meet the lawful source requirement? Make sure the tracing documents are clear and understandable. Start getting the EB-5 funds to be deposited into your personal bank account to be wired into either an escrow account or the bank account of the New Commercial Enterprise (NCE) entity.

- Make sure documents for the New Commercial Enterprise entity show that you have the rights to be involved in either policy-making decisions or day-to-day managerial decisions.

- Start working on a comprehensive business plan that meets the requirements of Matter of Ho precedent AAO case. You may need to work with a qualified Business Plan writer. In particular, focus on showing clearly how and when new job positions will be created and how and when your EB-5 investment will be spent to help create these jobs. Note that the jobs do not have to be created all at once, as long as you create all the jobs by the time you submit your I-829 conditions removal petition, some 2 years after you obtain your conditional green card.

Read complete article here: Steps to take on doing a direct EB-5 case by establishing new franchise store(s)



Have questions on how EB-5 can be a intricate part to a capital raise for development?
CONTACT US TODAY!


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Rochester, New York 14618
Tel: (866) 763-6515
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