Brothers,
Founder’s Day is just around the corner. This year, April 10th
marks the 151st anniversary of Theta Chi. Make this important fraternity
milestone more significant in your life by taking some time to reach out
to those brothers who you may have lost touch with. Send an email,
pick up the phone, or coordinate plans to attend a Theta Chi event this
year – just dedicate a small part of your day to reconnecting with
your fraternity brothers.
The National Fraternity is still offering the publication “A History
of Theta Chi” on their website. I received this book at convention
last summer and it is powerful. Check out this link to order you
own copy. http://www.thetachi.org/about/History/history2006/default.asp
Newsletter highlights…Alpha Psi celebrates Founder’s Day in
Bethesda…Our new lending partner...Our new (temporary) home…Basketball
recap…
Events
Founder’s Day Celebration Dinner – Saturday, April 21st
7PM – La Miche Restaurant, Bethesda
Where: La Miche Restaurant (www.lamiche.com)
7905
Norfolk Ave
Bethesda,
MD
When: Saturday, April 21st
7PM
Cost: $75 per person includes appetizer, main course,
dessert, beer/wine, and gratuity – what a bargain!
Please reply by April 6th. We need to ensure that Jason can in
fact close the restaurant to the public.
Alumni/Undergraduate Basketball Game
Thank you to those alumni that came out to play and support the team. It
was a nail-biter throughout, but like any good team, the alumni were
too strong down the stretch. Pictures to be on the website soon.
Save the Date: Annual Theta Chi Crab Feast – Saturday,
August 4th 11AM
Due to construction, location is to be determined. Spread the word
and mark your calendars. More details to follow.
Theta Chi Hot Topics
Renovation Project Update
After evaluating the lenders’ proposals and several rounds of negotiations,
we have selected the proposal from Sovereign Bank. The deciding
factor came down to the term length. While other banks were offering
marginally lower interest rates, Sovereign was willing to fix our rate
for 10 years – something no other bank was willing to commit. Knowing
this project will affect alumni leadership for years to come, we decided
fixing our costs for the longest term was the most fiscally responsible. Sovereign
is offering a fixed rate (~7.25) for 10 years, amortized over 25 years,
and interest only payments for the first 12 months. They are willing
to offer loan proceeds up to $1.5 mill or LTV of the renovated house.
The chapter will vacate 7401 Princeton Ave by the end of May. We
are in the process of finalizing the terms of a master lease agreement
with L&R Management (Leonard Goldstein) the owner of the former TEP/SAM
property adjacent to our parking lot. This location and the lease
terms provide the best-case scenario for the chapter. The lease
will begin Aug 15, 2007 and last 1 year. We are building in an
automatic option to renew just in case OX is not ready come Aug 2008. I
expect some level of effort to get our fraternity property across the
street – including composites, pool table, library stuff, etc.
The Renovation Committee continues to work on the next phases of the
project which include developing the detailed designs and construction
documents, stepping through the County/City approval and permitting process,
and selecting a general contractor and builder.
The Alumni Corporation Board is standing up a Fundraising Committee who
will develop, communicate, and oversee the fundraising strategy. Members
of the committee will be announced soon.
Once again, the website is a source of up-to-date information. We’ve
added a section for the renovation project and upcoming events and announcements
are always posted. Take a look and direct brothers there: www.thetachialphapsi.org
Alumni Corporation News
Alumni Corporation Board Members
Below, find the new Alumni Corporation Board Members and there contact
information. This board was elected at the Annual Meeting on August 5th,
and positions were appointed internally at the monthly Alumni Corporation
Board meeting August 21st. If you have any questions, please feel free
to contact them.
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