EB-5 investment packager Mastroianni, key Atlantic Yards player, gave Trump's inaugural committee $500,000. Staving off the "Golden Visa"?

In 2017, President Donald Trump raised what the New York Times called a "staggering $107 million" for his inaugural committee.

Among that was $100,000 from Nicholas A. Mastroianni III, whose father, Nicholas Mastroianni II, founded the United States Immigration Fund (USIF), the country's biggest firm recruiting immigrant investors under the EB-5 visa program, which grants low-cost loans to developers in exchange for purportedly job-creating investments.

Well, Trump just raised $239 million for his recent inauguration, well more than double the previous record total.

"About 140 different people or companies gave at least $1 million to the effort, including blue-chip companies like JPMorgan Chase, Delta Air Lines and Target," according to the Times.

Giving $500,000 was Mastroianni II, who has long supported Trump and surely would like a connection to the White House.

Today, Atlantic Yards/Pacific Park is at a crossroads, as the "lender"--er, creditor, which likely includes a USIF affiliate (see flowcharts)--needs to partner with a "permitted developer" to activate the collateral, the six development sites over the Vanderbilt Yard.

So Mastroianni is a--if not "the"--key player.

Policy issues

In 2018--so long ago--the USIF hired Trump lawyer Michael Cohen, before Cohen was on the outs, to help stave off EB-5 reforms, such as limiting gerrymandering of high-unemployment areas.

Today, the EB-5 industry is worried about Trump's proposed "Golden Visa" or "Gold Card" program, aimed at people willing to invest $5 million, which could replace or supplant EB-5, cutting off lucrative fees and interest from brokers like the USIF.

“There is zero chance of a substantial amount of people investing $5 million," Mastroianni II told the Real Deal, noting that it would be difficult in China and India, today the source of most investors, to convert local currency to that much liquid cash.

The USIF advises:

Even if the Gold Card gains political traction, it would take years to implement—if it happens at all. Investors should make decisions based on established immigration programs, not speculative proposals.

Getting the cash

Mastroianni said investors "cobble together their savings from family or friends to make the minimum investment" of $800,000, according to the Real Deal's summary.

Well, maybe there's a new tactic.

The program for an upcoming investment immigration trade show in India quotes Mastroianni III as saying that USIF projects now "provide investors access to the Opportunity Fund Lender EB-5 financing program," which helps investors finance part of their development.

From IREX Residency & Citizenship Conclave

The website for Opportunity Fund Lender does not identify the players, but the claim of "a team of experts bringing over 15 years of experience in EB-5" could correlate with the USIF.

It's offering "limited time introductory rates as low as 4.95% and loan amounts up to $400,000," or half the required investment.