Category Archives: Notice to Chapter

Chapter Update

Excerpts from a “Chapter Update” in the Chi Tetarton Newsletter December 2013.

For the past several years we had slowly chipped away at the houses [sic.] overall debt and this past semester we have nearly erased it entirely.

and

Also in big news for the fraternity, we have secured a house on Fraternity Village Drive for next year. It has been the Delta Sigma Phi fraternity house for the past several years. The house is large enough to accommodate 18 brothers and has a big social room and backyard.

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Chapter Update

The biggest battle we have faced for the past couple years is being won. We were in debt to the national fraternity, but due to the hard work of active brothers, we have lowered our debt tremendously just over the summer. IHQ is pleased with our work and is appreciative of all the efforts we have put forth this year!

Chi Tetarton Newsletter Fall 2013

National Responds

Sort of.

From:
Sent: Thursday, March 03, 2011 7:40 PM
To:
Subject: RE: 446 Stanwood, Kalamazoo

Hi     ,

The property was sold and following the sale it was announced to Chi Tetarton Alumni President Mark Caldwell to be disseminated to the alumni.  I’m sorry this information was not passed on.

The house was sold on September 15 [ed.: actually 16], 2010.

The sale price was $109,900.

The buyer was Main Street Properties[II,] LLC.

The remaining cash to seller [Ed.: Droopy] after mortgage, taxes, closing costs, etc., were paid off was $6,757.76.

During PSK Properties’ operation of the property, beginning in the fall of 2007 and running through up until the sale in September 2010, we took a net income loss of $15,172.93. So the final result after the proceeds of the sale was a total loss to my organization of $8,415.17.

A $90,000 mortgage was taken out by the local alumni association in November of 2005, two years before PSK Properties was in any way involved with the property. My understanding is that these funds were used to renovate the downstairs and installing a new roof, siding, windows and kitchen at the property. Again, we were in no way involved in obtaining this loan or making these renovations so I cannot provide the exact details, I’m simply going by what I was told and what I observed when visiting the property.

Most Fraternally,

 

Facebook (Closed Group) Statement

Seeing that the number of our alumni with facebook accounts is increasing, I’ve decided to create a group to help communicate alumni events and the happenings of the chapter.

Mark Caldwell
Just so you all know the PSK Properties board has been forced into selling the Chi Tet House on 446 Stanwood. If PSK has a good address for you then you should receive a letter going into more details about the decision. Essentially they active chapter was not paying rent on time, the amount of rent necessary is more that the chapter wants to pay, and they want to move down to Fraternity Village. At this time the Property Board is looking to find other renters (non Phi Sig) for next year or they will entertain offers to sell the house out right. Sorry for the bad news, but knowing the efforts that Evan and the Properties board put into the house and chapter it is the right business decision.
March 29, 2010 at 8:45pm

Matt Parowski –  I was initially upset after hearing this, as some of you may be as well; however, after speaking to the chapter I have a better understanding of the situation and how this move will strengthen the chapter.

It was not that the chapter did not want to pay the rent, they could not afford to pay the rent because the parlor fees were raised from $250 a month to $750 a month. The costs associated with keeping that house became out of range of the chapters annual budget. They have raised dues and held multiple fundraisers but that was not enough to offset the ever increasing costs.

Our chapter is the only fraternity on campus that does not have a central location in Fraternity Village. This has made it very difficult to recruit new members as well as stay involved with the rest of the greek community. Moving down to the village should put them back in touch with the community and help them to grow exponentially. We’ve always had a strong presence in the greek community and this move will only help to strengthen our position.

There are a lot of great memories for everyone in the Stanwood house, but as the times change, we need to be receptive to change as well or our fraternity will die. I would like to ask that everyone continue to support the chapter as much as they can and not take any offense to what is happening. Although the Stanwood house may be gone, the memories we had in it will never go away. Where ever the chapter may be physically, we still need to make an effort to reunite for Alumni Association events to share those memories and show our support for the undergrads.

I would also like to thank Mark Caldwell and all of the other alumni for their support of the chapter over the years. It has not gone un-noticed.

There are talks of a golf outing this summer and a last hurrah at the Stanwood house before they guys move out. Keep your eyes out for further details.

DAMN PROUD!
Matt Parowski
March 30, 2010 at 7:25am · Like

March 26, 2010 Letter

Chi Tetarton Alumni Letter – 446 Stanwood

March 26, 2010
Mark Caldwell
c/o Chi Tetarton Alumni Association
2431 Edsel Dr.
Trenton, MI 48183
Alumni Brothers of the Chi Tetarton Chapter of Phi Sigma Kappa:
This letter is being sent as a courtesy to make you aware of the course of action that the board of directors of Phi Sigma Kappa Properties, Inc. (PSKP) is taking with the property at 446 Stanwood, Kalamazoo, Michigan, as well as our collective efforts (PSKP and Grand Chapter) to assist the chapter in overall chapter management.

Last month, the PSKP board was given notice by the executive board of the Chi Tetarton Chapter that it will not be renewing its lease on the Stanwood property. The executive board stated the following reasons for their difficult decision:

  1. The Stanwood house is a financial burden to the undergraduate chapter as a result of the reduced income stream created when the lower bedrooms were removed;
  2. Western Michigan University no longer follows a formal recruitment system — freshmen have to find fraternities on their own which takes them exclusively to Fraternity Village Drive, putting Phi Sigma Kappa at a distinct disadvantage;
  3. The Stanwood house has a number of deferred maintenance issues which makes it an unattractive housing option for the members.

As a result of the chapter’s decision, the Stanwood house is currently without a tenant for the upcoming school year. Accordingly, a real estate broker has been engaged to offer the property both for sale and for lease as a way for PSKP to attempt to mitigate the financial
damage to the organization. The property is currently being operated at a deficit, and in the event of a sale it is unlikely that PSKP will receive funds in excess of its basis in the property.

While the decisions made by the undergraduate members have led to this decision, the PSKP board of directors does not hold a critical view of their decision. The current Chi Tetarton executive board has made a conscious effort to improve the chapter, along with our assistance and the assistance of the Grand Chapter. One example of this was taking the step of expelling problematic members.

Accordingly, PSKP and the Grand Chapter will continue to support the chapter by working with the executive board to secure a lease on a new property on or near Fraternity Village. In the true spirit of fraternity, PSKP wants to be a trusted advisor in the chapter’s quest to realize growth and success.

The PSKP board of directors understands that 446 Stanwood holds many fond memories for the Chi Tetarton alumni, but the chapter has spoken with a loud and unified voice, leaving little choice but to look for alternative scenarios with the property. PSKP thanks you for your support and any support you can provide the chapter during this challenging but hope-filled transition. Should you have any questions or concerns, please feel free to contact either one of us.

Most Fraternally,
Evan Prostovich                     Michael Carey
Director of Operations      Executive Director
PSK Properties                        Phi Sigma Kappa Fraternity
evan@pskproperties.org   michael@phisigmakappa.org
317-495-1746                         317-573-5420

Fall 2009 Signet

PSKP has completed its second year of ownership of a property at Western Michigan University, since assuming management for the Chi Tetarton alumni housing corporation. We continue to work toward improving the financial operation of the property. While there have been some hurdles along the way, we continue to push toward making this a viable chapter home and we have a positive outlook on the future. PSKP extends its
thanks to Brothers John Bowker (Detroit ’59) and Mark Caldwell (Western Michigan ’98) for their continued support
at WMU.

Signet Fall 2009 Page 36
Signet Fall 2009 Page 37

PSK Properties’ Criteria and Paradigm

With PSKP officers running Droopy, its “CLEP” presumably informs their decisions.  Per PSKP
PSKP exists to serve and support local PSK chapter housing initiatives, and therefore carefully considers all requests for housing assistance. To aid chapter leaders in their understanding of PSKP’s involvement criteria, PSKP has adopted the ‘CLEP’ standard of application assessment. When considering an application, PSKP carefully considers the Chapter, Location, Economics and Physical Attributes of the request:
Which includes this item
Subject property should be within 0.25 mile of any ‘Greek row’ or ‘Greek village.’
In other words, National/PSKP prefers locations other than Stanwood, since it’s on the opposite side of campus from frat row.

“Housing Corp.” Meeting

(approximate date)

This is the (in)famous “Housing Corp.” Meeting where:

  • PSK Housing Corporation [Droopy] posed as CHI TETARTON PHI SIGMA KAPPA HOUSING CORPORATION
  • the impending quitclaim from CHI TETARTON PHI SIGMA KAPPA HOUSING CORPORATION to Droopy was not disclosed.
  • the impending mortgage was not disclosed.
  • the existence of Droopy was not disclosed.
  • the impending winding up of CHI TETARTON PHI SIGMA KAPPA HOUSING CORPORATION was not disclosed.
  • The usurpation of CHI TETARTON PHI SIGMA KAPPA HOUSING CORPORATION by Droopy and “Chi Tetarton Alumni Association [aka Droopy]” and was not disclosed.
  • members/stakeholders of CHI TETARTON PHI SIGMA KAPPA HOUSING CORPORATION were misled.