sctroy's said it all!
Check with your school's IFC as well, they probably have a campus expansion plan, and they might be able to help you if you're thinking of colonizing with an NIC fraternity at some point.
May I ask, why a new fraternity and why a local, what are you looking for in a fraternity that isn't to be found in already established fraternitites? I'm curious because my greek experience is similar to yours so far.
Whatever happens, best of luck to you!
------------------
equeen
A Lioness has her Pride!
@>--;--
Alpha Sigma Kappa - Women in Technical Studies