For years, sports teams have tried to defray the multimillion-dollar costs of their new stadiums by asking fans to pay thousands for personal seat licenses that entitle them to buy season tickets.
Flávio Augusto da Silva is taking the concept further. In what may be the first deal of its kind, Mr. da Silva, the majority owner of Orlando City of Major League Soccer, is asking investors from Brazil, China and elsewhere to pay $500,000 each for a stake in the stadium he is building near downtown Orlando. In return, the foreign investors receive annual dividends, two season tickets and something even more valuable: a green card that allows them, their spouses and sometimes even their children to live and work in the United States.
Lawmakers Take ‘Fix It or Nix It’ Stance on EB-5
A popular senior housing finance program that was previously under fire received a short term reprieve—but lawmakers continue to discuss dismantling or reforming it.
The EB-5 financing program has been extended exactly as is until September 30, 2016, but calls to reform the program with stricter regulations have remained. The provision to extend the program without major changes was approved within the federal funding Omnibus Bill by Congress on December 15. But in early February, the program was back up for debate.
NYCEDC And CUNY Launch IN2NYC Program For Foreign National Entrepreneurs
New York City Economic Development Corporation (NYCEDC), in partnership with the City University of New York (CUNY), today announced the launch of the International Innovators Initiative (IN2NYC) Program, the first municipal program in the nation designed to help foreign national entrepreneurs access visas so they can create jobs in the United States.
EB-5 Debate Heats Up in Washington
Congressional debate on EB-5 immigration program which allows foreign nationals who invest in job-creating projects through Regional Centers to get green cards is heating up in Washington as program expiration date nears on December 11, 2015.