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STATE OF SOUTH DAKOTA M. MICHAEL ROUNDS, GOVERNOR June 3, 2003 Eduardo Aguirre Commissioner Bureau of Citizenship and Immigration Services 425 I Street, Northwest, Room I 700 Washington, DC 20536 Dear Commissioner Aguirre: The Immigration Act of 1990, Section l2l(b )5, establishes provisions by which individuals who invest $1 million in a business in the United States (US) and employ ten or more US citizens or legal residents will be granted a 2~year provisional visa. Rules to implement the Act were adopted in November of 1991. These rules extend provisions to individuals who invest $500,000 in a business in specified high unemployment or rural areas iu the US as defined by the Act. The South Dakota International Business Institute administers this program and the authority to certify which geographical regions are certified high unemployment areas has been delegated to the South Dakota Department of Labor (SDDOL). Based upon provisions of the Act, rural counties qualify regardless of unemployment rate. However, cities of 20,000 or more within these rural counties qualify only if they are high unemployment areas or if the entire county has a qualifying unemployment rate. Based on this, all South Dakota counties qualify except for South Dakota's only two metropolitan statistical areas of Sioux Falls (Minnehaha County) and Rapid City (Pennington County). Additionally, the cities of Aberdeen (Brown County) and Watertown (C0dington County) do not qualifY as they have populations of more than 20.000. The entire state of South Dakota, except for the cities mentioned in the prior paragraph, constitute South Dakota's certification of areas of high unemployment for the purposes of the Immigration Act of 1990. Questions regarding implementation of the Foreign Investor provisions of the Act in South Dakota may be referred to Joop Bollen, Director, SDIBI, at 605~626-3098. Questions regarding certification may be referred to Pam Roberts, Secretary, SDDOL, at 605-773-3 I 01. MMR:Is STATE CAPITOL • 500 EAST CAPITOL • PIERRE, SOUTH DAKOTA 57501-5070 • 605~773~3212 1 . - SOUTH DAKOTA DEPARTMENT OF LABOR PAMELA S. ROBERTS, SECRETARY June 9, 2003 South Dakota International Business Institute Attn: Joop Bollen 1200 South Jay Street Aberdeen, SD 57401 Dear Mr: Bollen: This letter is being provided in response to yow- request for the South Dakota Department of Labor to certify targeted employment areas in South Dakota. This certification is needed to support provisions detailed in Section 122(b)5 of the Federal hnmigration Act of 1990. These provisions create the opportunity for foreign individuals who invest in a business in the United States and employ ten or more U.S. citizens or legal residents to be granted a two-year provisional visa. The required capital investment is $1 million, except in targeted employment areas. For these targeted employment areas, the investment requirement is lowered to $500,000. To be certified as a targeted employment area, an area must qualify as a rural area or a high unemployment area. As defined by the Act, a rural area is any area not within either a metropolitan statistical area or the outer boWtdary of any city or town having a population of 20,000 or more. By this definition, all county areas in South Dakota qualify as rural areas, except the Rapid City MSA (Pennington County), Sioux Falls MSA (Lincoln and Minnehaha counties), and the cities of Aberdeen (2000 Census population of24~658located in Brown County) and Watertown (2000 Census population of20,237located in Codington County). To be designated as a high unemployment area, an area must have an unemployment rate that is at least 150 percent of the national average. The current national unemployment rate (April 2003) is 6.0 percent. Therefore, to qualify as an area ofbigh unemployment, an area needs an unemployment rate that is at least 150 pen;ent of the national rate, which would be 9.0 percent. According to current unemployment rates, none of the remaining areas in South Dakota qualify as high unemployment areas. Therefore, the Department of Labor certifies that all rural areas in South Dakota, as defined by the Act, qualify as targeted employment areas. If you require additional assistance regarding this matter, please do not hesitate to contact Phil George (605) 626-2314. EXECUTIVE OFFICE KNEIP BUILDING 700 GOVERNORS DRIVE PIERRE, SOUTH DAKOTA ~~ 57501-2291 Pamela S. Roberts Secretary of Labor 6()5... 773-3101 605-773-4211 (Fu) 2 ABC DIARY LIMITED PARTNERSHIP AGREEMENT OF LIMITED PARTNERSHIP THIS AGREEMENT OF LIMITED PARTNERSHIP (the "Agreement") is made as of------~- day of ___, 2004, among ABC FAMILY, L.L.C., a South Dakota limited liability company, as General Partner, and Korean Investor ONE, Korean Investor TWO, Korean Investor THREE, and Korean Investor FOUR. In consideration of the mutual covenants and agreements hereinafter set forth, the parties, desiring to form a partnership pursuant to the South Dakota Uniform Limited Partnership Act, as amended, for the purposes ""'' and upon the terms and conditions hereinafter set forth, hereby certify and agree as follows: ARTICLE I FORMATION; NAME; PURPOSES; TITLE TO PROPERTY; ADDRESS OF OFFICE AND AGENT Section 1.1. Formation of Partnership. The parties hereto hereby form a limited partnership pursuant to the South Dakota Uniform Limited Partnership Act, as amended, and the rights and liabilities of the partners shall be as provided in that Act, except as otherwise expressly provided herein. The General Partner shall promptly prepare, execute, file, and record in the appropriate public offices a Certificate of Limited Partnership and shall do all other things required for the perfection of the Partnership as a limited partnership and to authorize the conduct of its business under an assumed name pursuant to South Dakota law and to register to do business in South Dakota as required by South Dakota law. Section 1.2. Partnership Name. The name ofthe Partnership shall be "ABC Dairy Limited Partner ship", and the business of the Partnership shall be conducted under such name. (b)(4) 3 (b)(4) ARTICLE ll DEFINITIO~S Section 2.1. Definitions. When used in this Agreement the following terms shall have the meanings forth below: Act means the Uniform Limited Partnership Act as adopted in the State of South Dakota, and in effect from time to time. Agreement means this Agreement of Limited Partnership, as from time to time amended. 4 (b)(4) Code shall mean the Internal Revenue Code of 1986, as amended from time to time, together with 5 Treasury Regulations issued thereunder from time to time, or any successor statute or regulations. (b)(4) 6 (b)(4) Project means a dairy operation located in the State of South Dakota with a projected plan to employ or more individuals. ~----------~--- Person means any natural person or any Entity. Successor Entity shall have the meaning set forth in Section 10.3. Tax Matters Partner shall mean ABC Family, L.L.C., a South Dakota limited liability company, who is designated as such pursuant to Code Section 623\(a)(7)A. ARTICLE ill (b)(4) 7 (b)(4) 8 (b)(4) ARTICLE V (b)(4) 9 (b)(4) ARTICLE VI (b)(4) ARTICLE VH (b)(4) 10 (b)(4) 11 (b)(4) (b)(4)1~---------~A:RT~IC~L~E~VIH~----=====~-~~- -1 L ..J 12 (b)(4) 13 (b)(4) ARTICLE IX (b)(4) 14 (b)(4) 15 (b)(4) 16 (b)(4) 17 (b)(4) 18 (b)(4) r -----------~-1 ·-~r-----------==--ARTICLE X -------_jl (b)(4) --- 19 (b)(4) 20 (b)(4) 21 L --------------- -I 22 (b)(4) 23 (b)(4) IN WITNESS WHEREOF, the undersigned have executed this Agreement of Limited Partnership as of the date first above written. 24 GENERAL PARTNER ABC FAMILY, L.L.C., a south Dakota Limited Liability Company Witness: By _____________________________ Witness: Korean Investor ONE Witness: Korean Investor TWO Witness: Korean Investor THREE Witness: Korean Investor FOUR 25 .. ". U.S. Department of Homeland Security 425 I Street, t-.'W ULLICO Bldg., 3"' F1oor Washington, DC 20536 U.S. Citizenship and Immigration Services HOOPRD 70/6.2.8 APR -8 2004 Mr. Joop Bollen Director South Dakota International Business Institute 711 East Wells Avenue Pierre, South Dakota 57501-3369 Dear Mr. Bollen: Pursuant to Section 610 of the Appropriations Act of 1993, the South Dakota International Business Institute (SDIBI), Dairy Economic Development Region (DEDR) is designated as a regional center to participate in the Immigrant Investor Pilot Program. The new commercial enterprise investment focus of the SDIBJJDEDR Regional Center will be on two areas of commercial enterprise: 1. Animal dairy farm operations. 2. Animal heifer ranch operations. As of this date, aliens seeking immigrant visas through the Immigrant Investor Pilot Program may file individual petitions with USCIS for these new commercial enterprises located within the SDIBIIDEDR regional center area comprised of 12 counties in eastern South Dakota. These are the counties of Brookings, Clark, Coding ton, Deuel, Grant, Hamlin, Kingsbury, Lake, McCook, Miner, Moody, and Roberts. Alien entrepreneurs who file petitions for commercial enterprises located in the SDIBIIDEDR regional center area must fulfill all of the requirements set forth in 8 CFR 204.6, except that the petition need not show that the new commercial enterprise directly hired ten new employees as a result of the alien entrepreneur's investment. Each individual petition, to demonstrate that it is associated with the SDIBIIDEDR regional center, in conjunction with addressing all the requirements for an individual alien entrepreneur petition, shall also contain as supporting evidence relating to this regional center designation, the following: 1. A copy of this designation letter. 2. A copy of the approved regional center narrative proposal. 3. A copy of the approved job creation methodology required in 8 CFR 204.6G)(4)(iii), as contained in the SDlBI/DEDR regional center proposal which has been approved by USCIS, which reflects how investment in a new commercial enterprise within the www.uscis.gov 26 Mr.