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Thanks to Alumni, The House Is Almost Paid Off |
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In January 2009, Kappa Sigma’s mortgage on the chapter house of approximately $100,000 will become due. At that time, the fraternity must either refinance or pay it off. Based on the success of the capital campaign to date, the fraternity should be able to pay it off and celebrate this accomplishment at the chapter’s 40th anniversary celebration on October 24-26, 2008.
"The mortgage is the only thing holding the chapter back," explained House Corporation President Chip Howard ’73. "Relieving them of this obligation will allow the chapter and alumni house corporation to devote valuable resources to housing improvements, maintenance, scholarships and programming activities."
With nearly $187,000 already pledged to the campaign, progress is good. Kappa Sigma has already collected more than $93,000 in cash. Most donors to the campaign are spreading their payments out over one or two years. By October 2008, projections indicate that Kappa Sigma will have collected more than $125,000 from generous supporters.
"We’re on our way to retiring this debt," said campaign co-chairman Gordon Clark ’90. "Every additional brick purchased by an alumnus speeds up that process and allows us to begin focusing on the future and the renovations we’d like to make."
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