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January 25, 2011

Still waiting for some answers from the USCIS on EB-5 and the Brooklyn arena project

Atlantic Yards Report

So, the federal government's EB-5 immigration program, in which investors in purportedly job-creating projects can get green cards for themselves and their families, has been the subject of a broad investigation by Reuters and an Atlantic Yards-focused investigation by this blog, both concluding last month.

Three weeks ago, I posed the following query to the United States Citizenship and Immigration Services (USCIS), the federal agency overseeing the program:

I recognize that you may be unable to comment on specific procedures or projects, so not all my questions may be answered, but they include:
--what has been the reaction, from external and internal stakeholders, to the Reuters article?
--has the Reuters article prompted any changes, or consideration of any changes?
--can/should/will USCIS crack down on apparent abuses in the marketing of EB-5 projects?
--is USCIS satisfied with the guidance/rules on crediting immigrant investors with job creation based on money already committed by other sources, especially for a project that would move forward with or without the immigrant investor funds?
--does USCIS have any new concerns about the Brooklyn Arena and Infrastructure project, marketed by the NYC Regional Center?

I'm still waiting for a response.

And yes, the second-to-last question points to the Brooklyn Arena and Infrastructure Project, given that Atlantic Yards would move ahead with or without immigrant investor funds, according to the state.


Posted by eric at January 25, 2011 10:32 AM