TOP CORPORATE ATTORNEYS
national team of securities, tax, corporate,
lending and real estate lawyers. McKee
approaches her work from a risk manager’s
vantage and employs a tailored, systematic
approach of structuring and documenting her
client’s EB-5 transactions, working to ensure
that clients are well-armed to balance business
objectives and risks. She leverages Kutak
Rock’s national platform and experience in
the municipal finance industry to offer clients
insight, innovation and efficiency. A frequent
speaker and writer on EB-5 and securities
law considerations, McKee is an active EB-5
community member dedicated to elevating
EB-5 industry practices and standards.
MARIZA MCKEE
Partner
Kutak Rock LLP
M
ariza McKee is a partner in Kutak Rock
LLP’s Chicago office where she counsels
EB-5 clients. McKee advises regional centers, new
commercial enterprises, job-creating entities and
EB-5 stakeholders involved with domestic and
international offerings seeking EB-5 investment.
She led Kutak Rock’s EB-5 industry analysis in
2010 and was instrumental in structuring its EB-5
Finance Practice, which is an interdisciplinary,
WHAT DO YOU THINK
THE FUTURE OF THE EB-5
INDUSTRY LOOKS LIKE?
We believe the EB-5 industry of the future
will be reformed, whether through legislation
or regulation, and that it will eventually
mature into a development finance option
akin to more established incentive-based
financing tools, such as tax credits. It’s
important to reauthorize or make permanent
the EB-5 Regional Center Program to allow
a foundation from which the industry can
continue to stabilize and grow. We would
offer a far more fulfilling role as counselor
and problem -solver. Moseley enjoys
understanding clients’ needs and navigating
the intricacies of securities laws with
practical solutions. Moseley was introduced
to EB-5 in early 2008 when she was asked
to assist a JCE with a loan from Korean
investors. Moseley began writing articles
addressing securities law implications in
EB-5 and speaking at conferences during
the “early years” when securities law was not
at the forefront of EB-5 related discussions.
Moseley continues to help regional centers
and JCEs with solutions to meet their goals.
JENNIFER
MERCIER MOSELEY
Partner
Burr & Forman LLP
J
ennifer Mercier Moseley is a corporate and
securities partner at Burr & Forman LLP in
Atlanta. She advises small start-ups to large,
public companies in an array of transactions and
capital raising activities. After working with only
institutional clients at the beginning of her career
in New York, Moseley discovered that advising
start-up and developmental stage companies
WHAT DO YOU THINK
THE FUTURE OF THE EB-5
INDUSTRY LOOKS LIKE?
Due to recent SEC actions and increasingly
negative views of EB-5, I think there will
be more interagency cooperation and
emphasis on oversight in the reforms. I
would like to see this oversight apply to the
industry’s payments to third parties (such
as brokers) and see guidance from the SEC
on payments to parties overseas. Generally,
an oversight that is tailored towards actually
deterring fraud is needed. Also, as EB-5
investors become savvier on the intricacies
like to see thoughtfully-designed integrity
measures that encourage transparency
and accountability throughout the EB-5
investment and immigration processes.
Additionally, we would like to see meaningful
reform that encourages investment in rural
and economically distressed areas.
HOW ARE YOU HANDLING THE
ISSUE OF REDEPLOYMENT?
We e v a l u a t e l e g a l i m p l i c a t i o n s o f
redeployment for ever y new EB -5
engagement and for transactions that did
not originally contemplate redeployment.
Our redeployment advice focuses on
disclosing and documenting redeployment
strategy in compliance with securities
laws and USCIS policy with particular
attention on NCE business scope and
avoiding material change. Redeployment
into new issue municipal bonds is of
particular interest to Kutak Rock given
our history in the public finance sector.
Kutak Rock has served as bond counsel in
more than 10,500 municipal bond issues
aggregating over $320 billion in all U.S.
states. Our public finance attorneys and
EB-5 team are working together to analyze
considerations related to redeployment
into new issue municipal bonds.
of EB-5 requirements, investors’ and regional
centers’ attention will turn towards more
complex issues such as tax consequences
and services providers in this area will
increase.
HOW ARE YOU HANDLING THE
ISSUE OF REDEPLOYMENT?
I have discussions upfront with the JCE
about other projects into which we could
redirect EB-5 funds in case a loan or equity
investment will be repaid before an EB-5
investor has had his or her I-829 petition
adjudicated. While funds can be redeployed
to a project of a different developer, I have
been able to negotiate with JCEs to provide
contractual obligations allowing the regional
center to redirect funds to a future project.
When the JCE has a proven track record,
investors have a higher level of comfort
having this option in a contract in advance.
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