It turns out there is at least one federal stimulus program that Congress can support almost unanimously -- the Immigrant Investor Program, which allows foreign nationals to obtain a so-called EB-5 visa in exchange for investing in U.S. real estate development and other job-creating ventures.
The House of Representatives voted 412-3 last week to reauthorize the EB-5 Regional Center Program, administered by the U.S. Citizenship and Immigration Services agency, for at least three years through Sept. 30, 2015.
As reported by CoStar in April, the program has become an increasingly popular matchmaking and financing tool for pairing foreign investors with U.S. developers and completing projects hampered by lack of construction capital and financing.
Read more...Give Me Your (Moneyed) Masses: Congress Extends Investor Visa Program and Important Source of CRE Funding - CoStar Group
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