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CMB has I-829
CMB EB-5 Regional Center I-829 Approval CMB Regional Center now has I-829 approval of our Investment Structure. The approvals are as deep as our third project, CMB Infrastructure Investment Group I. This is the very first I-829 approval of any Regional Center based solely on indirect job creation not using any direct jobs. The number of operating Regional Centers that can say they have an I-829 is extremely small. ...More

CMB Infrastructure Investment Group V Partnership

The Group V Partnership will make three separate and distinct investments. The investments will be between the CMB Partnership and (1) IVDA and SBIA (the redevelopment agency of the former Norton Air Force Base), the San Bernardino Economic Development Agency (SBEDA) and (2) The city of El Monte Redevelopment Agency (EMRA) and (3) The SBIA/IVDA and the city of Rialto Redevelopment Agency. The total investment by the CMB Group V Partnership is $22 million.

The IVDA/SBIAA/SBEDA have authorized CMB to raise up to $8 million to fund new infrastructure and capital improvements in direct support of the sbX Omnitrans transportation project, infrastructure improvements to redesign and reconstruct Inland Center Drive and individual projects related to Inland Center Mall a retail project within San Bernardino.

The second investment authorized by the CMB Infrastructure Investment Group V, Limited Partnership consists of an overall commitment by CMB to raise investment capital of up to $30 million in various phases for a transit orientated development (TOD) project for the city of El Monte California. The first phase to be funded by this partnership consists of an approximate $52.5 million project involving building the actual transit center and relocation and construction of a new city yard in the city of El Monte, California.

The third investment authorized by the CMB Infrastructure Investment Group V, Limited Partnership was a project with the City of Rialto and the San Bernardino International Airport (SBIA) (the former Norton AFB). The two agencies have entered into an escrow agreement whereby they will jointly assist each other in the establishment of infrastructure at both locations. This project is the first funding of CMB in the expected involvement toward building infrastructure at both locations. The Rialto Airport, in order to begin development as “Renaissance Rialto”, needs to relocate certain assets mostly involving air operations. The SBIA has agreed to accept the air assets the Rialto airport must relocate; however the SBIA must build the basic infrastructure to accommodate the needs of those assets and new airport support facilities need to be built at the SBIA. This partnership will help fund initiatives as a portion of a larger project involving both entities starting with direct support for infrastructure construction at both locations.

At the IVDA/SBIA it is expected that a minimum of $12 million will be spent on general aviation upgrades such as utility upgrades, site preparation for future air operations facilities as well as general tarmac upgrades for aircraft ingress and egress to the main runway configuration (see conceptual drawings). At the Rialto Airport the ongoing construction of infrastructure includes site design, permitting, demolition of existing structures, upgrades to basic utilities such as storm drains, water and sewer lines as well as street construction, flood abatement, retention basins and other infrastructure related construction. The City of Rialto has committed to spend nearly $20 million on the infrastructure in this first phase. The total combined funding for the infrastructure is expected to be approximately $32 million.

This seventh EB-5 investment partnership of CMB is fully subscribed with all investor petitions pending before the USCIS for I-526 review.
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