120 - icic.org · the new york city regional center, which manages many eb-5 projects, found: china...
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ANATOMY OF AN EB-5 INVESTMENT A Brooklyn Navy Yard Project
$141M FOR BROOKLYN NAVY YARD REDEVELOPMENT PROJECT
The New York City Regional Center, which manages many EB-5 projects, found:
CHINA
VENEZUELA
ARGENTINA
MEXICO SOUTH KOREA
120 EB-5
INVESTORSFROM:
$81M EQUITYFROM FEDERAL, STATE AND LOCAL GOVERNMENTS INCLUDING:j New York Cityj New York Statej Empire State Development Corp.j U.S. Economic Development
Administration
10 JOBS PER EB-5 INVESTOR
MINIMUM
1,200+JOBS FOR U.S.
WORKERSINVESTORS ARE REPAID THEIR
ORIGINAL INVESTMENTafter a 5-year period
BROOKLYN NAVY YARD DEVELOPMENT CORPORATIONManages the Brooklyn Navy Yard project and deploys $141M of capital
3-YEAR PROJECT PROVIDING:j Infrastructure improvements
j Rehabilitation of the Green Manufacturing Center
+
=
$60MEB-5 INVESTMENT
LOAN
BROOKLYN NAVY YARD EB-5 REDEVELOPMENT PROJECT
EB-5 APPLICATION APPROVALU.S. Citizenship and Immigration Services
Immigrant Petition by Alien
Entrepreneur
Escrow funds released to
project
I-526 Investor’s funds are returned from escrow
$500K FROM EACH INVESTOR
$60MTOTAL
ESCROW ACCOUNT
Direct, indirect and induced jobs
Source: http://nycrc.com/pdf/BNYDC-PressRelease-5-10-2010.pdf
Within 90 days after the two-year conditional residency status expires
EB-5 investors are subject to same process and criteria as other immigrants seeking green cards.
GREEN CARD APPROVALU.S. State Department
Investor repaid or funds lost
2-year conditional residency
status
I-829
Status to permanently live
and work in the U.S.
Removal of Conditional
Status
Application for conditional
permanent residency
status
Brooklyn Navy Yard