| has abstract
| - China City of America is a multi-phased construction project planned for the town of Thompson, Sullivan County, in the Catskill Mountains region of the U.S. state of New York. The current project, Thompson Education Center (TEC), is a proposed for-profit college for foreign students, situated in a 573-acre parcel which borders a state-protected wetland. In December 2011, China City LLC applied to be a USCIS recognized EB-5 visa Regional Center, but the business was never approved by US Homeland Security. The EB-5 immigrant investor program grants permanent residency to foreign investors in exchange for job-creating investments in the United States. The 880 Regional Centers sponsor capital investment projects for foreign entrepreneurs seeking green card status. Approximately 85 percent of EB-5 participants are Chinese, but there is a quota system, and waits for Chinese applicants can be as long as 15 years. More than a year later, China City America publicly presented its idea to build a 2,200-acre Chinese theme park, hotel, and casino for an estimated $6 billion. According to The Economist, the plan "would attract 1.5 million visitors annually" and "transform the struggling economy" in upstate New York while attracting thousands of wealthy Chinese investors through the federal EB-5 visa program. The initial capital investment of $325 million would include $127.5 million from EB-5 investors, $132.5 million from equity investors, and $65 million from the U.S. government. According to the plan, Chinese investors would pay a $65,000 non-refundable deposit. Local, national, and international media articles conveyed a variety of interests and concerns about the project while local officials and residents expressed both hope and skepticism. Sherry Xue Li, an Oyster Bay, Long Island businesswoman, has been the chief executive officer and founder of China City of America. Li reported to the Associated Press that she came to the US in 1991, at the age of 19, and has a background in development and finance. According to SEC records, Sherry Xue Li had been a major shareholder in BRS Group, Inc., a Delaware company dealing in scrap copper imports to China and China Electronic Holdings. Sherry Xue Li sold her stake in China Electronic in 2010 and BRS in 2011. According to The Daily Beast, "Li rarely, if ever, talks to the press, issuing her statements mainly through press releases in which she boasts of her meetings with Republican officeholders and Trump administration officials." The other officer of the Thompson Education Center is Mike Lianbo Wang who has appeared in a few TEC press releases. At a May 2013 town council meeting where Sherry Li first pitched the project, she stated that "Each dynasty will have its building and will have rides go with it," China City’s website features golden dragons, and projects an initial investment of $325 million — with $10 million going to a "Temple of Heaven," $24 million on a hotel and entertainment complex, and $20 million to construct a 'Forbidden City.'" In its second meeting with the town council, Thomas J. Shepstone represented China City. Shepstone was known in the region as a defender of fracking. According to Paula Medley of the Basha Kill Area Association the project couldn't be developed on the scale proposed by China City without damaging environmentally sensitive wetlands. In 2014, Town of Thompson supervisor Bill Rieber became frustrated with Li's constantly shifting plans and the Town of Thompson declined to approve the project, but the project was granted approval for three wells in 2016. In the same year, Sullivan county lawyer Jacob Billig sued China City of America for failing to pay him fees for service. A settlement was reached out of court for $25,000. (en)
|
![[RDF Data]](/fct/images/sw-rdf-blue.png)
![[cxml]](/fct/images/cxml_doc.png)
![[csv]](/fct/images/csv_doc.png)
![[text]](/fct/images/ntriples_doc.png)
![[turtle]](/fct/images/n3turtle_doc.png)
![[ld+json]](/fct/images/jsonld_doc.png)
![[rdf+json]](/fct/images/json_doc.png)
![[rdf+xml]](/fct/images/xml_doc.png)
![[atom+xml]](/fct/images/atom_doc.png)
![[html]](/fct/images/html_doc.png)