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January 25, 2012

Federal agency overseeing EB-5 immigrant investment program confirms that it will continue to let states gerrymander districts of high unemployment

Atlantic Yards Report

I wrote 1/11/12 how a revised draft memo on EB-5 Adjudications Policy, issued that day by the United States Citizenship and Immigration Services (USCIS), punted regarding the practice by states of gerrymandering maps to ensure projects aimed at immigrant investment were located in areas of high unemployment.

And that allows for a lower investment level, $500,000, rather than $1 million, for those seeking green cards and their families.

Last month, in a front-page article, the New York Times put the gerrymandering issue on the national agenda, forcing USCIS Director Alejandro Mayorkas to acknowledged concern about the spirit of the legal provision which aims to help high-unemployment districts.

The Times article, which focused on the odd maps approved for New York projects (including what I've dubbed the "Bed-Stuy Boomerang" involving Atlantic Yards), even generated an editorial chiding the federal agency.

But the memo issued earlier this month stated that the USCIS would continue to give deference to the lines drawn by the state.

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NoLandGrab: We suppose it's too much to ask for that boomerang to come back and hit Bruce Ratner in the tuches.

Posted by eric at January 25, 2012 12:02 PM