[SmartBlondeGPhB]

I think you need to let the reputation die, and that could take any number of years. I do think that you should at least wait until all of the members have graduated from that school. As has been said, it seems cruel to reorganize a chapter but intentionally leave out (the whole definition of "reorganize") your own members who are still undergraduates. That seems like a sure fire way to create extremely bitter alumnae.