Monday, June 11th, 2018

EB-5 Investor Visa $$$ May Fund Sports Stadia

"If the Tampa Bay Rays ever get a new stadium, it might come with an assist from an unlikely source — wealthy Chinese immigrants.  Chamber of commerce leaders from Tampa and St. Petersburg who have
been studying how to pay for a new Rays stadium landed on an obscure
federal immigration program called EB-5 that might help with the
half-billion-dollar tab.  Under the program, foreigners willing to invest at least $500,000
each to create jobs in the United States can qualify for a green card
for themselves and their families. Essentially, affluent foreigners can
buy their way into a life in America — and the majority are coming from
China.  If enough would-be immigrants cobble their money together, it theoretically could fund at least part of a stadium.  In Brooklyn, N.Y., for example, the EB-5 program is providing up to
$228 million for  a massive new retail, housing and basketball arena
complex for the New Jersey Nets, according