EB-5

Gregory Finkelson: Investor Funding for Homeless Housing Communities in California

Gregory Finkelson: Investor Funding for Homeless Housing Communities in California

Gregory Finkelson - Open Letter to the Honorable Gavin Newsom, Governor of the State of California

I was pleased to see that the May Revision to the State Budget included a significant increase in support to prevent and mitigate the chronic issue of homelessness in California.

I applaud the courageous leaders willing to double state funding when federal data indicates that the number of unsheltered homeless continues to rise despite increased spending since 2014.

It is my opinion that there are viable solutions for reducing homelessness in our state and that it can be done in ways that provide a sense of community, personal pride, and, in concert with other programs, opportunities for the homeless to re-engage many into the workforce.

What is more, I would like to offer a potential solution that could effectively address the homeless problem while also reducing the need for state and local funding. My proposal has two components.

Setting aside plots of land on which villages of tiny homes are constructed. The City of Seattle has experienced success with a similar program. The villages could be erected on public land or purchased through the second component of my proposal.
Fund the projects through the U.S. State Department’s EB-5 Investment Immigration Visa program. Millions of dollars are available from foreign investors in return for a Green Card and permanent residency in the U.S.

 

As you may know, the USCIS oversees the EB-5 program, including the approval of projects and the investors. Investors are required to put up a minimum of $500,000 to fund projects that also create 10 new jobs for American residents. Because legal immigration is the primary objective of the investors, they are often willing to loan the money for several years at little or no interest.

I believe that there are several ways in which investments could be utilized successfully to the benefit of the homeless, the investors, and the State of California. Structured correctly, invested funds could be used to purchase cabins, mini-homes, property, installation, utilities, maintenance, and security.

It is possible that job creation programs themselves could be funded by EB-5 investments. Also, funds could be used to establish medical clinics at or near the villages.

The numbers and types of ventures that could be funded to get the homeless off the streets, from under bridges, and out of the backseats of their cars are almost limitless. Private transportation services could be established for the exclusive use of getting members of the previously homeless villages to jobs, job interviews, and other appointments.

My purpose at this time is to bring this concept to your attention and to encourage your further consideration. Because of my experience in the realm of legal immigration, I would be delighted to offer my personal assistance as well as that of my staff at American Corporate Services, Inc., and of our Immigration Attorneys at ACS Law Offices to assist in exploring the possibilities and providing the expertise required to bring these ideas to complete fruition.

I would be honored to receive your response and to discuss this concept at greater length with you and your representatives.

Sincerely,
Dr. Gregory Finkelson

President
AMERICAN CORPORATE SERVICES, INC.
Co-Chair of Business Immigration Committee – China Silicon Valley
GFinkelson@usa-acs.com
www.USA-ACS.com
www.Business-Visa-USA.com / www.Business-Visa-USA.cn
Telephone: 415-682-2550
Facsimile: 415-682-2551
SKYPE: AmericanCorporateServices

 

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