agenda city of watsonville city council/redevelopment agency meeting

CSRC’s Organization and Administration
Minimum Investment Amount and TEA Eligibility
California Sunshine Regional Center (CSRC) understands that foreign nationals participating in investment
opportunities within the CSRC through designated partnerships are required to demonstrate a personal
investment of $1 million dollars into the new commercial enterprise (CSRC Partnership), except the minimum
investment is lowered to $500,000 if the investment is located in a “targeted employment area” (TEA).
The geographic boundaries, which define the scope of the CSRC, includes both TEA and non-TEA areas. Working
with the assistance of the local government of Watsonville and the State of California, CSRC will provide the
USCIS with a letter from the Employment Development Department (EDD) identifying the project specific census
tract and unemployment calculations to determine TEA qualifications and therefore eligibility for a reduced
minimum investment threshold of $500,000 per investor.
This government TEA letter will be provided to each CSRC partnership and submitted in the Form I-526 Petition
for all corresponding immigrant investors within that Partnership.
Evidence of Employment Creation and Econometrics
The Act requires that the applicant demonstrate the new commercial enterprises has resulted in the creation of
not fewer than 10 full-time jobs or a comprehensive business showing the future creation of these jobs.
For each investment project approved by the Regional Center, the partnership will obtain and provide to the
service (as part of the I-526 Petitions) a comprehensive econometrics report using the IMPLAN model or RIMS II
model.
California Sunshine Regional Center (CSRC)
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