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Mark Ivener and Charles Kuck Commented on EB-5 Investment Funds for Louisiana International Gulf Transfer Terminal

Mark Ivener and Charles Kuck were quoted in the February 3-9, 2012, edition of New Orleans CityBusiness, in an article on EB-5 investors, "Lawmaker Wants Foreign Investment for Terminal." In an article about Louisiana state senator A.G. Crowe wanting to use EB-5 investment funds to finance the Louisiana International Gulf Transfer Terminal, currently an idea for a port at the mouth of the Mississippi River, Mr. Kuck said the EB-5 program is ill-suited for such massive, unfunded ventures. "Some people view this EB-5 program as this limitless supply of money from naïve foreign investors. I have frankly yet to meet investors willing to say 'I'll be the first investor in your program and hopefully two years from now you will have actually done your deal and created jobs." He said EB-5 investors calculate their risk and they are leery of being guinea pigs for projects lacking seed funding. Although the article notes that there are currently 194 regional centers, Mr. Kuck said there are "no more than 10 or a dozen that any rational person would recommend" to EB-5 investors. Mr. Ivener commented on potential conflicts of interest that can result if brokers represent regional centers to which they are steering investors. Mr. Ivener noted that it is common to represent both types of clients separately.


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