PDC and the American United EB-5 Regional Center (AURC) signed an agreement on June 12 that will elevate the city's profile in the competition for EB-5 investors and potentially lead to creating more jobs in Portland.
Each party's complementary skills create the capacity for considerable impact. PDC brings a 50+ year history of making projects of significance happen, while AURC offers experience and expertise in attracting real-estate focused investment and raising foreign capital.
The public-private partnership, the first of its kind in Oregon, will offer EB-5 program financing to stimulate economic growth and job creation in the Portland market. The federal EB-5 program is designed to provide capital investment in projects that will create U.S. jobs. In exchange for the investment, prospective immigrant investors qualify for U.S. residency. The EB-5 program was created in 1990, but has gained in popularity more recently, corresponding to lack of investment capital during the recession of the past four years.
EB-5 Regional Centers are run by private or public organizations or public-private partnerships that cover a specific geography. The Centers provide a one-stop service, usually bringing together immigration, financial structuring and economic modeling.
EB-5 financing may be used for real estate or manufacturing projects that will create jobs. The PDC-AURC program offers equity, senior or mezzanine financing with fixed rate interest only payments through maturity (generally a five-year term). Loan amounts generally range between $3 million and $50 million and can be used in combination with other sources of capital.
Prospective borrowers are encouraged to schedule an introductory meeting with PDC staff to review project eligibility. To talk about EB-5 financing for your project, please contact PDC or AURC:
Peter Englander (PDC Central City Manager) 503-823-3347, EnglanderP@pdc.us
Damian Crowder (PDC Program Coordinator) 503-823-3319, CrowderD@pdc.us
Marvin Kau (AURC Vice President) 503-477-8170, firstname.lastname@example.org
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