Sigma - Fall 2006

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BUILDING THE FUTURE OF PI KAPPA PHI SIGMA CHAPTER • UNIVERSITY OF SOUTH CAROLINA Sigma House Corporation • P.O. Box 6108 • Columbia, SC 29260 Address Service Requested

If you have any questions regarding the Building the Future of Pi Kappa Phi Campaign, please contact Campaign Coordinator Brad Rukes at (785) 843-1661 or brukes@penningtonco.com.

W H Y W E C O U L D N O T WA I T MIKE LOWMAN ’84

T

oday’s Sigma Chapter is not that different from when we were in school but they faced something we never had to, competition from fraternities with new attractive chapter houses. If you haven’t heard, a new Greek Village has been developed at USC with many of the fraternities building top-of-the-line chapter facilities in the last few years. From then on, recruitment had quickly turned into the haves versus the have-nots with our undergraduates being forced to recruit under tents in the Quad! You can imagine how that put us at a major disadvantage. With only three plots in the Greek Village left, the Sigma House Corporation Board had to move, and move fast, if we wanted a facility in the Greek Village. With the assistance of Jerry Brewer ’75 we were able to secure a premier location for our new house, but with this opportunity came a stipulation. We needed to begin construction on the new house within 12 months of taking ownership or we would lose our rights to the property. We did not want to lose our space in the Greek Village as we would never get a chance to build there again. Without a fraternity house we could not excel in recruitment and, thus, the future of our Chapter would be put in jeopardy.

P I

K A P PA

P H I

Subsequent to securing our lot, we entered into a joint venture with Pi Kappa Phi’s National House Corporation, Pi Kappa Phi Properties, to assist us in securing the financing and up-front dollars required to begin construction. Pi Kappa Phi Properties has invested over $400,000 to date to complete the construction, to secure the construction loan, and is the current noteholder so the house could be built on time. The Chapter House was completed in August, and our actives moved in before recruitment began. With our present needs provided for, we need to protect our future. While we were able to build a top-of-the-line facility, Pi Kappa Phi Properties currently holds the bank note and thus owns our Chapter House for the time being. It is now the responsibility of Sigma alumni to raise the necessary funds to refund Pi Kappa Phi Properties its investment on our behalf and take possession of the Chapter House note and continue payment on the note. Simply put, if we do not have the funds to pay the note and the initial investment from Pi Kappa Phi Properties, then we may lose our new home. While we appreciate the National Fraternity stepping in and getting us started, it is now Sigma Chapter’s turn to support the Fraternity and take ownership of our new home. To make this house financially feasible, we need your support.

S I G M A

C H A P T E R


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