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July 17. 2013 12:57PM

Balsams seeks immigrant angel to help fund rehab of grand hotel


 

The EB5 program requires that the immigrant make a capital investment of either $500,000 or $1,000,000 (depending on whether the investment is in a Targeted Employment Area [TEA] or not) in a new commercial enterprise located in the U. S. TEA is defined by law as "a rural area or an area that has experienced high unemployment of at least 150 percent of the national average."

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