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From the City to The Hill: EB-5 Dialogue with Congressman Hakeem Jeffries
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</h3><h4><i>by <a href=”http://discuss.ilw.com/content.php?7114-Article-Private-Refugee-Sponsorship-Gains-Crucial-New-Support-by-Matthew-La-Corte#bio”>
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Christina Dilbone (Mona Shah & Associates Global)
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<p>
On an overcast Monday afternoon in a conference room sitting high atop New
York City, EB-5 attorneys, developers and project managers sat around a
large roundtable to discuss legislative issues surrounding the EB-5
program. Congressman Hakeem Jeffries represents the 8th District of New
York, consisting of Brooklyn and a portion of Queens. An EB-5 proponent and
important ally in the House of Representatives, Congressman Jeffries
supports the new draft legislation and readily joined the discussion on
behalf of both Congress and his constituents. An avid supporter of
immigration reform in the past, Congressman Jeffries has previously
collaborated with the New York Immigration Coalition and the Fair
Immigration Reform Movement in his sustained efforts to bring comprehensive
changes to the U.S. immigration system.
</p>
<p>
Congressman Jeffries opened the dialogue by emphasizing the extensive
diversity of his constituents, a majority of whom are immigrants or
children of immigrants, and the colloquial “American dream” that many of
them share. This dream, Jeffries stated, “<em>must be preserved”</em> and
included in the larger narrative of immigration policy.
</p>
<p>
Congressman Jeffries, astonishingly knowledgeable about EB-5, recounted
extensive discussions with Jared Kushner, Senior Advisor to the President.
The Congressman emphasized that it is vital that EB-5 stakeholders come
together and support sustainable changes to a program that will bolster its
effectivity and availability by engaging the bicameral legislature. The
newly drafted bill proposing constructive changes to the EB-5 program will
be brought before the Senate in the coming months. Representatives and
Senators alike have expressed support for the bill, and though the
Regulations going into effect on November 21<sup>st</sup> are still an
all-too-grim reality for some, it is imperative that we continue to support
our allies in the promotion of the EB-5 program as it expands and
metamorphizes.
</p>
<p>
The Congressman articulated the common concerns many members of Congress
feel surrounding EB-5 investments and job creation, including worries that
the program only benefits the wealthiest immigrants and that the TEA method
has not accomplished its intended feat of allocating jobs to the people who
need them most. Mona Shah (Mona Shah and Associates Global) responded by
commenting on the largely partisan support the EB-5 community has received
from Republicans, while some Democrats have voiced concerns that EB-5
amounts to a “visa purchase” program for the richest of the rich. Mona
commented that the main recipients of EB-5 visas are in fact middle-class
immigrants who have used their life savings/accumulations to pursue the
American dream and obtain access to exceptional educational opportunities
for their children. Nods of agreement swept around the room as others
echoed this truth with vehement comments. Nicholas Salzano (National Realty
Investment Advisors) affirmed that in his experience dealing with over 100
investors, the overwhelming majority have been what he calls “regular folk”
pursuing their dreams of a future in America.
</p>
<p>
Aaron Grau (IIUSA) confirmed these concerns by emphasizing the need for a
larger number of visas in the EB-5 program, specifically through
terminating the method by which derivatives are included in the country
visa cap counts. This would allow more visas to be allocated to individual
investors in each country, bolstering the program which in turn stimulates
the U.S. economy and creates jobs across all 50 states. According to a
report released earlier this year, EB-5 projects were responsible for over
$10 billion of capital investments during 2014-2015 alone, with more than
355,200 reported jobs created.
<a
href=”http://discuss.ilw.com/articles/articles/391682-article-the-repatriation-process-in-honduras-and-arguments-of-relocation-in-u-s-immigration-hearings-by-robert-kirklanda#2″
name=””
title=”[2]”
>
[2]
</a>
</p>
</a>
EB-5 project viability along with economic impact outside of the project
location was a theme raised by several in the room, including Bob Kraft
(First Pathway Partners) and Nadim Ahmed (NuRide Transportation Group).
This economic stimulation and job creation does not benefit a party line or
advantage specific groups, but benefits the country as a whole by
increasing foreign direct investment and burgeoning domestic markets from
inbound investments through increased development.
</p>
<p>
Project developers, including George Xu (Century New York City Regional
Center), John Lam (Lam Group) and Charles Abele (Hollywood Circle
Development) expressed their concerns over the common misconception that
the jobs created by EB-5 investments are not allocated to truly rural or
high unemployment areas.
<a
href=”http://discuss.ilw.com/articles/articles/391682-article-the-repatriation-process-in-honduras-and-arguments-of-relocation-in-u-s-immigration-hearings-by-robert-kirklanda#2″
name=””
title=”[2]”
>
[2]
</a>
and emphasizing that though a project may be located in a particular
location, the employees are commonly travelling from more rural or suburban
surrounding areas. As Carolyn Lee (Carolyn Lee PLLC) pointed out, in New
York City the employment pool is largely from the outer boroughs such as
the areas that Congressman Jeffries represents, and these EB-5 related jobs
have indeed been created for those in areas of high need.
</p>
<p>
We would like to thank all of those who supported this event and our
continued pursuance of a brighter future for EB-5. We are truly grateful
for those who stand by us as we re-imagine the future of EB-5 after
November 21<sup>st</sup>, especially Congressman Hakeem Jeffries and his
continued advocacy on the hill on our behalf.
</p>
<p>
<em>Thank you for the generous donations from the below supporters:</em>
</p>
<p>
Windels Marx Lane & Mittendorf, LLP (Host)
</p>
<p>
A&J Capital
</p>
<p>
Advantage America Regional Center
</p>
<p>
American Dream Fund
</p>
<p>
Arkansas Capital Group
</p>
<p>
Carolyn Lee PLLC
</p>
<p>
Century Development
</p>
<p>
Century New York City Regional Center
</p>
<p>
Civitas Capital Group
</p>
<p>
Commonwealth Strategic Partners
</p>
<p>
Concorde EB-5 Advisors, LLC
</p>
<p>
EB-5 New York State, LLC
</p>
<p>
EB-5 New York State Regional Center
</p>
<p>
First Pathway Partners
</p>
<p>
Grand Construction & Development Group
</p>
<p>
Grau and Associates, LLC
</p>
<p>
Hollywood Circle Development
</p>
<p>
IIUSA
</p>
<p>
Infinity Group
</p>
<p>
Izzy Klein
</p>
<p>
Lam Group
</p>
<p>
Mona Shah & Associates Global
</p>
<p>
National Realty Investment Advisors
</p>
<p>
New York EB-5 Regional Center
</p>
<p>
New York Immigration Fund
</p>
<p>
NuRide Transportation Group
</p>
<p>
Peng and Weber, PLLC
</p>
<p>
PropMix.io
</p>
<p>
Todd Associates
</p>
<p>
Wilde & Associates, LLC
</p>
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<strong></strong>
</p>
<p>
<strong>Endnotes:</strong>
</p>
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<p>
<a
href=””
name=”[1]”
title=””
>
[1]
</a>
Economic and Policy Resources (2019),
<a
href=”http://mshahlaw.com/economic-impact-eb-5-regional-center-program/”
>
http://mshahlaw.com/economic-impact-…enter-program/
</a>
</p>
</div>
</p>
<p>
<strong></strong>
</p>
<p>
<strong>Endnotes:</strong>
</p>
<div id=”2″>
<p>
<a
href=””
name=”[2]”
title=””
>
[2]
</a>
“
<em>
The average American commutes 26 minutes each way, and here in
New York that number jumps to 53 minutes
</em>
” stated one participant, quoting a recent US Census report
<a
href=”https://www.census.gov/library/visualizations/interactive/travel-time.html”
>
https://www.census.gov/library/visua…avel-time.html
</a>
</p>
</div>
<p>Reprinted with permission.</p>
</span>
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About The Author<br/>
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<p>
<b>Greg Siskind</b> is a partner with Siskind Susser, PC – Immigration Lawyers. After graduating from Vanderbilt University, he received his law degree at the University of Chicago. He created the first immigration law web site in 1994 and the first law blog in 1997. He’s written four books and currently serves on the board of governors of the American Immigration Lawyers Association. He can be reached by email at gsiskind@visalaw.com.
</p>
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