Developers of the sprawling New England Sports Village in Attleboro are using an unique method of raising capital, employing a federal program that gives permanent U.S. residency to wealthy foreigners willing to invest in American projects.
The so-called EB-5 program grants the foreigners green cards and allows them to apply for citizenship after five years if they invest at least $500,000 in a job-creating program.
The developers of the sports complex have teamed up with a firm established by former U.S. Attorney General John Ashcroft and former U.S. Senate candidate Michael Sullivan to find investors through the program.
“It’s a great program and I think we will expand it in New England in the future,” said Joseph Fitzpatrick, one of the partners in theAshcroft-Sullivan firm and a developer of the sports village.
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