Tuscaloosa Housing Corp.
 

So I saw something about fraternity houses, and now I have a question about the Tuscaloosa Housing Corp. I know they still give 3 scholarships to AXiD's attending school in Alabama every year, but where do they get the money? I know we used to have a house on Sorority Row at 'Bama. Is it being leased to another sorority? If so, if Alpha Xi is ever recolonized at UA, what would the other sorority have to do?

Just curious, and bored.

I believe our former house is currently occupied by Gamma Phi Beta. I'm not sure what the lease terms are, and haven't heard of any extension rumblings at 'Bama.

Re: Tuscaloosa Housing Corp.
 

I really don't know anything about this, but I'm going to take a guess re the scholarship.

They probably have an endowment for xx amount of dollars, and the scholarship is awarded from the interest earned on that amount. For example, if they have a $50,000 endowment, and it earns $3,000 in interest this year, that means they can give out three separate $1,000 scholarships (using 3 since you said they give out 3). Since they're incorporated as a Housing Corporation, I don't think they have to have a chapter to support in order to exist.

I'm sure that there's a provision in the lease that should we ever recolonize, the sorority (I guess Gamma Phi Beta) would have to vacate the house for our use.

edited b/c apparently I can't type today.

That's kinda what I figured, except I would have thought that some money from the sorority leasing it would go to the scholarship fund just to be sure that it could go on for quite a while.

I haven't heard any expansion rumors about 'Bama either, I was just *morbidly* curious.

EDIT: Only two scholarships were given out last year, but I don't know if that's because of a low # of applicants or what.