520 Replacement Bridge !!
May 29th 2015 proved to be a very fortunate day when one of our investor from 520 Replacement bridge EB5 Project received their Green-Card.
520 Replacement bridge program was started with the objective of rebuilding the old floating bridge with modern design to withstand earthquakes and stronger cables to resist the waves. The concept is to improve traffic safety by replacing SR 520’s aging and vulnerable bridges, while making other key highway improvements to enhance public mobility and transportation options throughout the corridor. Construction is occurring in separate, phased project based on funding and other factors.
We at Access the USA, LLC, a Washington State limited liability company managed the project as a general partner. The EB-5 bond model was designed by the Access the USA dba Washington Regional Center patent pending. The company provided supplemental financing for the 520 Bridge Project in order to close the gap between the US$4.65 billion needed by the State of Washington to fund portions of the Project for which it is financially responsible. AUSA provided some of this financing by raising up to US$4.2 million from immigrant investors through the EB-5 Program and using the Offering proceeds to purchase Project Bonds. The total jobs estimate to be created by this project is 10,700 for the first year and 13535 for the second year. The project is located in a TEA area which gave us the advantage of investing $500,000 per investors, per regulations.
We considered the project to be a successful EB-5 investment. The bonds issued by the washington state are Government owned and are rated as AA+ with a default rate of 0.0109%. EB-5 immigration related shares for the AUSA’s project is approximately $41,500,000. The bonds have high liquidity that provides the investors with an easy exit strategy. After five years of holding the bonds, when all the investors successfully received approval of their I-829 application, the bonds have the option to be sold on the U.S. bond market or transfer directly into the investor’s name. The project is managed by professional contractors employed by the government. The government involvement makes the project success easily trackable and available for reviews. Transparency was a big part of our project’s success.
Our investors have started the process of receiving their Green Card. We are proud of the contribution we were able to make in fulfilling our investors American dream.