With bank financing for new construction in short supply, real-estate developers are turning to a federal program that grants green cards to foreign nationals who invest at least $500,000 in a project. The new attention has turned a once-obscure alternative source of funds into a viable route toward development. Use of the 20-year-old program...
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Today Rep. Luis Gutierrez (D-Ill.) introduced theComprehensive Immigration Reform for America’s Security and Prosperity Act of 2009 (CIR ASAP). Open Market was able to get an advanced outline of the bill. Here are some of its main features: Good: 1. Prohibits creation of a national identification card (this contradicts mandated E-Verify, see below).2. “Recapture”...
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