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Is Westminster, Colorado a TEA?

I have been to an EB-5 conference in Newport Beach last year and met some interesting folks, but I have not built an EB-5 team yet. I am a real estate developer (mostly hotels) and looking to build a 120 room hotel in Westminster Colorado. I am still in the research phase looking at my financing options. I own this land in Westminster and have the requisite entitlements in place.

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    You need to contact the state body authorized to grant TEA designations and see if the area you''re inquiring information about is already a TEA or can be designated as one.

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    Lei Jiang

    Immigration Attorney
    Answered on

    You should hire an immigration attorney for this question. It requires some work. If you want to do it yourself, the state government is the place to start.

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    Margo Chernysheva

    Immigration Attorney
    Answered on

    Contact your state economic development governing body and ask them who is responsible for EB-5 TEA designation. Then contact that individual and see if your address is already designated or if you qualify to be designated. Most importantly, work with an experienced immigration attorney to help you set up your RC.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    The State of Colorado would be the entity designating the TEAs in your state.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    You need to inquire with the State Department of Labor regarding this.

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    Ed Beshara

    Immigration Attorney
    Answered on

    It is essential to have an experienced EB-5 team of professionals to prepare an EB-5 compliant and marketable project. However, in my opinion it is also essential to first and immediately obtain the required EB-5 investment funding for the project before you spend the cost of having all the professionals prepare the EB-5 required documentation. Our Law Firm is in a position to immediately help you with the EB-5 process.

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    Boyd Campbell

    Immigration Attorney
    Answered on

    You need to contact the Colorado Department of Labor and Employment, Office of Labor Market Information to find out TEA information.

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    Elana Laverty

    Immigration Attorney
    Answered on

    A TEA (Targeted Employment Area) is defined as either a rural area or an economically distressed area that has an unemployment rate 150% greater than the national unemployment rate. If the area is designated as a TEA then only a US $500,000 investment is required instead of US $1,000,000 investment. A TEA designation is based on the unemployment data of a state, county, city or census tract data. You can find out whether the area is a TEA by contacting Colorado''s Department of Labor or Department of Economic Opportunity.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Targeted Employment Area designation is made by the particular state in which you are looking to place your project. Sometimes, states will designate entire counties as TEAs on an annual basis. Other times, you can request a designation for the actual address and a combination of contiguous census tracts. Retaining an experienced EB-5 attorney (like those at our law firm) can help you arrange for this designation and coordinate with EB-5 economists to assist you.

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    Sufen Hilf

    Immigration Attorney
    Answered on

    Contact your state and you can get state designated TEA.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You have to contact that state agency in charge of employment statistics and EB-5 TEA designations to be sure. In your situation, it would be best to have a state designation letter designating your area as a TEA.

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    Jeffrey E Campion

    Immigration Attorney
    Answered on

    Whether a particular site is a TEA is site specific. The best manner to determine such is to speak with the State official in charge of designating TEAs and see if it is designated or if it can be designated a TEA.

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