Real Estate Roundtable President and CEO Jeffrey DeBoer.
Congressional reauthorization of EB-5 “regional centers” needs to pass before the investment program expires on September 30, and should include measures to improve the program’s transparency and accountability as outlined in an August 12 report by the U.S. Government Accountability Office (GAO), according to Jeffrey DeBoer, President and CEO of The Real Estate Roundtable.
The EB-5 program brings foreign capital into the U.S. to help public-private partnerships finance development projects in rural, suburban, and urban communities across the nation. EB-5 financing has assisted funding of infrastructure, charter schools, real estate development, energy production, health care facilities, ski resorts, hotels, and manufacturing plants, among others.
According to DeBoer, the EB-5 program “provides unique gap financing for large and small projects across the nation and creates American jobs at no cost to taxpayers.”
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