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.
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.
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!
I recently spoke with Evan, the PSK properties manager. Basically the outstanding debt on the property is approximately $87K. My idea is for us to raise the money needed to pay off the debt, continue allowing PSK properties to manage our asset, and have them invest the money needed for us to attract renters back into our house. Although the amount of money sounds like a lot, if one breaks it down and we get 200 people to donate a tax deductible contribution of $435.00($36.25/month for 12 months) the debt is paid. For your recognition, I would like to propose we have a plaque with a list of all the patrons assembled and presented at our 50th anniversary. This is a unique way of preserving our heritage and keeping our traditions as the longest standing chapter house at Western Michigan University.