Delshah close to securing $130M construction loan for 30 Morningside

30 Morningside Drive and Michael Shah Michael Shah would contribute $123M to the five-building development, TASE documents show Michael Shah’s Delshah Capital entered into a non-binding contract for a $130 million construction loan? to finance a five-building project in Morningside Heights, the company reported on the Tel Aviv Stock Exchange. Square Mile Capital will provide the … Read moreDelshah close to securing $130M construction loan for 30 Morningside

Mount Snow eyes growth amid EB-5 cloud

Federal and state officials differ on approach to shutdown of regional center Despite Vermont’s big problems with EB-5, the foreign investment program, has led to major expansions at Mount Snow. And that trend may continue, even in the wake of recent news that the federal government intends to shut down the state-run EB-5 regional center. Executives at … Read moreMount Snow eyes growth amid EB-5 cloud

A brand-name hotel is moving into the old Markham building — and that’s not all

The old Markham Hotel in downtown Gulfport will be developed under a franchise agreement with a major brand. The building, which has been empty since Hurricane Katrina in 2005, sits across from the Mississippi Aquarium now under development.  The derelict Markham Hotel building will be transformed into a Hyatt Place hotel, a developer told the … Read moreA brand-name hotel is moving into the old Markham building — and that’s not all

EB-5 scandal haunts former Global Aquaponics officer

Minnehaha County Emergency Management assistant director Doug Blomker discusses qualifications for police reserve officers. A key player in a proposed multi-million-dollar fish farm south of Brookings was recently named as a debtor in several judgments worth hundreds of thousands of dollars. Timothy Burns of Brookings was the chief operating officer for Global Aquaponics, which announced … Read moreEB-5 scandal haunts former Global Aquaponics officer

Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment Assistance

Pursuant to section 251 of the Trade Act 1974, as amended, the Economic Development Administration (EDA) has received petitions for certification of eligibility to apply for Trade Adjustment Assistance from the firms listed below. Accordingly, EDA has initiated investigations to determine whether increased imports into the United States of articles like or directly competitive with … Read moreNotice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment Assistance

State, feds agree on closing EB-5 regional center

The Vermont Department of Financial Regulation issued its final report this week on the Vermont EB-5 Regional Center following a July settlement of the fraud case involving Jay Peak, Burke Mountain and Raymond James Financial. The report recommends closing the Vermont EB-5 Regional Center. The recommendation follows an Aug. 18 notification from the U.S. Citizenship and Immigration Service, which administers … Read moreState, feds agree on closing EB-5 regional center

The RAISE Act – Legal Immigration Faces Challenges

In early August, President Trump voiced support for a bill introduced earlier this year by Senators Tom Cotton (R-AR) and David Perdue (R-GA) to effectively overhaul the current immigration system. The Reforming American Immigration for Strong Employment (RAISE) Act has similarities to other points-based immigration systems, such as those in Canada, Australia, or the newly … Read moreThe RAISE Act – Legal Immigration Faces Challenges

Using the Islands to Get Around U.S. Immigration Laws

An overly creative immigration lawyer, seeing the years-long backlog for EB-5 visas for the Chinese, has suggested using the immigration policy of a tiny island nation, Grenada, to maneuver around U.S. immigration rules. The EB-5 program is for passive alien investors, giving them a family-sized bunch of green cards in return for a $500,000 investment … Read moreUsing the Islands to Get Around U.S. Immigration Laws

Ski resort owner will litigate damages, not contest charges

” A ski resort owner accused last year of massive fraud involving foreign investors’ money will not contest the U.S. Securities and Exchange Commission charges against him. A lawyer for Ariel Quiros, the owner of the Jay Peak Resort, said Tuesday that Quiros is not admitting nor denying anything and now will only litigate damages. “As far as … Read moreSki resort owner will litigate damages, not contest charges

Mount Snow eyes growth amid EB-5 financing rift

Work has progressed steadily on Mount Snow’s West Lake snowmaking expansion project. Despite Vermont’s big problems with EB-5, the foreign investment program has led to major expansions at Mount Snow. And that trend may continue, even in the wake of Monday’s news that the federal government intends to shut down the state-run EB-5 regional center. On Tuesday, … Read moreMount Snow eyes growth amid EB-5 financing rift

Jay Peak’s Quiros will not fight SEC fraud charges

Michael Goldberg explains a settlement with the financial firm Raymond James which will pay contractors and investors owed money in the Jay Peak and Burke Mountain EB-5 projects at the Statehouse in Montpelier on Thursday, April 13, 2017.  A ski resort owner accused last year of massive fraud involving foreign investors’ money will not contest the U.S. Securities and Exchange … Read moreJay Peak’s Quiros will not fight SEC fraud charges

New Renderings Surface For Related’s 50 Hudson Yards, Midtown West

Related’s Hudson Yards development is one of the most impressive construction projects in the history of New York City, and an armada of cranes currently dominates the Midtown West skyline as towers at 15, 30, 35, and 55 Hudson Yards continue to rise. Now, YIMBY has the latest details for the office behemoth that will soon be … Read moreNew Renderings Surface For Related’s 50 Hudson Yards, Midtown West

USCIS intends to shutter Vermont EB-5 program

The Tram Haus Lodge was Jay Peak’s first EB-5 project. Foreign investors in that project eventually were unhappy with their return on investment, eventually leading to state and SEC investigations, which are ongoing. VBM photo Vermont Business Magazine The federal government on Friday informed the state that it will seek to close Vermont’s foreign investment program, widely known as … Read moreUSCIS intends to shutter Vermont EB-5 program

Receiver’s offer to AnC Bio investors: $500,000 refunds or ‘redeploy’ it

Michael Goldberg, court-appointed receiver in Vermont’s EB-5 investment fraud.  More than 130 EB-5 investors in a proposed $110 million biomedical research facility in Newport later deemed by regulators “nearly a complete fraud” have a choice to make. But the clock is ticking. The investors have until Aug. 31 to decide to either get back their $500,000 investment … Read moreReceiver’s offer to AnC Bio investors: $500,000 refunds or ‘redeploy’ it

Agency Information Collection Activities; Extension, Without Change, of a Currently Approved Collection; Free Training for Civics and Citizenship of Adults, Form G-1190; Civics and Citizenship Toolkit, Form G-1515

Agency Information Collection Activities; Extension, Without Change, of a Currently Approved Collection; Free Training for Civics and Citizenship of Adults, Form G-1190; Civics and Citizenship Toolkit, Form G-1515 Please follow and like us:

Skyland developers ask D.C. for another one-year extension

Councilman Vincent Gray, D-Ward 7, at the Skyland site this summer. The flattened field at the proposed Skyland Town Center in D.C. will remain fallow for a while longer. Developers WC Smith and Rappaport have asked the D.C. Zoning Commission for a one-year extension to start construction on the $115 million Block 2, the first phase of … Read moreSkyland developers ask D.C. for another one-year extension

ProPublica spotlights VTDigger’s EB-5 reporting

ProPublica, the national investigative news outlet, produces the Breakthrough, a podcast where investigative reporters talk about their biggest stories. On Friday, VTDigger’s Anne Galloway joined the show to discuss her investigation into the multimillion-dollar Northeast Kingdom development that she thought was “too good to be true.” Host Jessica Huseman writes: Galloway and her team dug … Read moreProPublica spotlights VTDigger’s EB-5 reporting

USCIS Ombudsman: China EB-5 Backlog May Be 10 Years

In case you missed it, the USCIS Ombudsman Annual Report, 2017, reveals some astounding information about EB-5 China backlogs: recent applicants may face waits of 10 years or longer to immigrate: “The EB-5 program continues to attract high net-worth foreigners on a worldwide basis, and disproportionately from China. As a result, processing times are long and are … Read moreUSCIS Ombudsman: China EB-5 Backlog May Be 10 Years

The EB-5 Visa Program: Balancing Risk and Opportunity

For a quarter-century, the EB-5 visa program has helped finance economic development projects across America, sparking job growth and business investment in cities, suburbs and rural regions throughout the U.S.—all at no cost to the taxpayer. EB-5-funded projects span a diverse range of regions and industries, from charter schools in Utah and manufacturing plants in … Read moreThe EB-5 Visa Program: Balancing Risk and Opportunity

“We support free speech, but [we don’t support free speech].”

Those who follow me on Facebook know that I enjoy quoting the various “We support free speech, but…” excuses from censors as they explain why they fired or disinvited or blacklisted people whose views they don’t like. Remarkably, two different vice presidents at Google used this formulation in their reactions to employee James Damore’s common-sense … Read more“We support free speech, but [we don’t support free speech].”

EB-5 visa Your child’s best option in lieu of the Raise Act endorsed by President Trump

This week, U.S. President Donald Trump endorsed a bill (a revised version of the RAISE Act) that seeks to reduce levels of legal immigration to the United States by 50%. The legislation would cut the number of green cards issued annually in half, from more than 1 million to fewer than 500,000. If passed, the … Read moreEB-5 visa Your child’s best option in lieu of the Raise Act endorsed by President Trump

Delshah raises $52M in Tel Aviv for $250M Morningside Heights project

30 Morningside Drive and Michael Shah Firm plans to convert five-building complex into 205 upscale rentals Israeli road show veteran Micheal Shah raised $52 million in a bond issuance on the Tel Aviv Stock Exchange to finance a $250 million redevelopment project in Morningside Heights. The total falls short of Shah’s $63 million offer, and carries … Read moreDelshah raises $52M in Tel Aviv for $250M Morningside Heights project

Fired legal team presses for $3M payment for defending Quiros

Ariel Quiros at a groundbreaking in Newport in May 2015.  Former attorneys for Jay Peak owner Ariel Quiros are renewing their push to get paid more than $3 million in legal fees they racked up defending the developer from investor fraud allegations before he fired them. However, his new attorney says the former legal team is … Read moreFired legal team presses for $3M payment for defending Quiros

NY Wheel foreign investors could be denied green cards

New York Wheel: Limited construction continues If the New York Wheel never comes to fruition, foreign investors who put up $206 million for the project will be denied their green cards. The $580 million project — funded by a conglomerate of private investors — had been indefinitely delayed, since the NY Wheel fired it contractor, … Read moreNY Wheel foreign investors could be denied green cards

Over 350 attend vigil in Boston in memory of Srinivas Kuchibhotla

Approximately 350 people attended a vigil in memory of Srinivas Kuchibhotla on March 10 in Boston, Mass. The vigil was the first of its kind in Massachusetts to honor Kuchibhotla and address the recent wave of hate crimes across the country, Sonali Lappin, organizer of the event and President of … Please follow and like … Read moreOver 350 attend vigil in Boston in memory of Srinivas Kuchibhotla

Over 350 attend vigil in Boston in memory of Srinivas Kuchibhotla

Approximately 350 people attended a vigil in memory of Srinivas Kuchibhotla on March 10 in Boston, Mass. The vigil was the first of its kind in Massachusetts to honor Kuchibhotla and address the recent wave of hate crimes across the country, Sonali Lappin, organizer of the event and President of … Please follow and like … Read moreOver 350 attend vigil in Boston in memory of Srinivas Kuchibhotla

Judge quashes whistleblower deposition in EB-5 investor case against state

A judge has ruled that, for now, defrauded EB-5 investors in a class action lawsuit against the state cannot take the deposition of a key whistleblower in the case. Lamoille County Superior Court Judge Thomas Carlson quashed the plaintiffs’ request for the deposition of Douglas Hulme, citing state rules prohibiting discovery until the defense has … Read moreJudge quashes whistleblower deposition in EB-5 investor case against state

Visa program offers promise to the poor — then breaks it

The $900 million Echelon Seaport project on Seaport Boulevard will feature luxury condos and apartments. Above: the site in May. It was the type of celebration that’s become commonplace in the Seaport District. Investors, developers, and other real estate types mingled earlier this summer at a groundbreaking ceremony for Echelon Seaport — $900 million worth of luxury … Read moreVisa program offers promise to the poor — then breaks it