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Seattle EB-5 Expert Asserts That Reforms Will Strengthen Program

These are dicey times for the EB-5 program — including the move to end it by one congressman who wants to shut it down — but attorney and EB-5 specialist Troy Nehring, who just joined Baker Tilly Capital in its Seattle office, is optimistic about its future.

Seattle EB-5 Expert Asserts That Reforms Will Strengthen Program
Home Plate Center

"I don’t expect major changes to the regional center portion of the EB-5 program prior to its sunset date on April 28," Nehring said. "I anticipate the program will be extended 'as-is' for a short period of time."  

The EB-5 program's benefits are apparent in many developments across the United States, he said.

"That includes several projects in the greater Seattle area utilizing the EB-5 program with great effectiveness." 

Home Plate Center in SoDo, for one, successfully utilized $155M in EB-5 capital. Seattle is one of the markets that also has seen a handful of dodgy EB-5 deals.

Seattle EB-5 Expert Asserts That Reforms Will Strengthen Program
Troy Nehring of Baker Tilly Capital

Nehring said Congress will likely pass legislation extending and reforming the regional center part of the EB-5 program.

"Those reforms will likely include an increase in the minimum investment amount as well as the institution of EB-5 compliance guidelines and procedures. Many professionals in the EB-5 industry would welcome such reforms.

"In the meantime, the Department of Homeland Security has proposed its own reforms via the rulemaking process. It's raised filing fees associated with the EB-5 program and implemented certain compliance requirements. These are positive steps for the EB-5 program."

WASHINGTON DC 07.12.2017


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