A publication of Seyfarth Shaw's New York Real Estate
Practice. The ReaList newsletter covers New York real estate
news, events, and trends.
Real Estate Finance:
EB-5 Program Temporarily Extended Without
Change
On May 5, 2017, President Trump signed into law H.R. 244, which
authorizes appropriations to fund essential government operations
and programs that were set to expire on May 5, 2017. H.R. 244
includes reauthorization, without change, for the EB-5 Regional
Center Immigrant Investor Program (the "EB-5
Program"). The EB-5 Program allows foreign investors to
obtain U.S. permanent residency if they (i) invest $1 million into
a "new commercial enterprise" (or $500,000 if the new
commercial enterprise is located in a targeted employment area
– either in a rural area or one or more census tracts
experiencing high unemployment) and (ii) can document that their
investment created a minimum of ten full-time jobs over a two-year
period. These EB-5 investments are a
