“We’re just thankful that they are finally moving forward with this,” he said about the federal investigators. “We have been pushing against this for years. We’ve been actively in communication with them for the past year.” RELATED: Read more Palm Beach real estate news Black said he is hoping that the property can be stabilized and that the EB-5 investors can get what they expected when they made their investments. Under the federal program, foreign investors and their families can be expedited for permanent immigration visas — so-called green cards — if they make at least a $500,000 investment in a project that would ultimately employ 10 or more people. A group of more than 50 EB-5 investors, mostly from China and Iran, filed in 2016 a lawsuit in federal court in West Palm Beach against Palm House developers, alleging they were defrauded out of more than $50 million. “I think the property is valuable, and I would like to (be able to) make the EB-5 immigration status viable, so they can get their green cards,” Black said. The Palm House property today is overseen by court-appointed receiver Cary Glickstein, the outgoing mayor of Delray Beach. On Friday, Glickstein said that the court has authorized him to pursue an agreement with a brokerage firm to market the property for sale. Any sale would also have to be signed off on by the court. “Pursuant to court order, we are proceeding to the market — to market the property — and we have a hearing later this month to sign that agreement. After that point, the property will be presented to the world, and we expect there to be a lot of interest in it.
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