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Flushing Point Plaza Project Risk Control

The Project is located at 131‐02 40th Road, Flushing, New York 11354, which is in Queens County Census tract 871 according to the December 15, 2016 letter from the New York State Department of Economic Development.


Target Employment Area

The immigrant investor must invest at least $1,000,000 in capital in a new commercial enterprise that creates not fewer than 10 jobs for U.S. workers. An exception exists if the immigrant investor invests his or her capital in a new commercial enterprise that is principally doing business in and creates jobs in a targeted employment area. In such a case, the immigrant investor must invest a minimum of $500,000 in capital.

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The Project is located at 131‐02 40th Road, Flushing, New York 11354, which is in Queens County Census tract 871 according to the December 15, 2016 letter from the New York State Department of Economic Development.    
The 2015 average unemployment rate for Census tract 871 in Queens County, NY is 9.4%, as indicated in the May 13, 2016 letter from the New York State Department of Labor. This is above the current 8.0% threshold for qualification as a Targeted Employment Area.

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JOB CREATION REQUIREMENTS

Create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years (or under certain circumstances, within a reasonable time after the two-year period) of the immigrant investor’s admission to the United States as a Conditional Permanent Resident.
Create or preserve either direct or indirect jobs:
Direct jobs are actual identifiable jobs for qualified employees located within the commercial enterprise into which the EB-5 investor has directly invested his or her capital.
Indirect jobs are those jobs shown to have been created collaterally or as a result of capital invested in a commercial enterprise affiliated with a regional center by an EB-5 investor. A foreign investor may only use the indirect job calculation if affiliated with a regional center.

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ECONOMIC REPORT

Dr. Michael K. Evans of Evans, Carroll & Associates, Inc. (“ECA”) was engaged to conduct an economic impact analysis for the anticipated activities of MFH Hotel Fund, LP.  The results are within the ECA report, Economic Impact of Construction and Operation of a Mixed‐Use Building Including Two Hotels, Condominium Units, Office Space, and a Parking Garage, Located at 131‐02 40th Road, Flushing, Queens County, New York City, as Part of the NYUS Regional Center Inc. dated January 24, 2017.
The methodology used by Dr. Evans was the Regional Input‐Output Modeling System (RIMS II) to calculate job creation for each category of economic activity.  This model has been successfully used by Dr. Evans in over 500 studies and has been approved in many earlier applications by USCIS.

ECONOMIC REPORT

DR. MICHAEL K. EVANS OF EVANS, CARROLL & ASSOCIATES, INC. (“ECA”)

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REGIONAL INPUT‐OUTPUT MODELING SYSTEM

RIMS II

Based on Project cost, anticipated condominium sell‐out, and operations of the hotels, parking garage, and office space, the Project is forecast to create a total of 2,908 permanent new jobs, with a surplus ratio of 45.4% than required.

 APPRAISAL

“as is” market value of
fee simple interest

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