Hi Life,
I'm pretty sure the LCAP does pretty well regardless of the situation. One property may be at a loss, but I assure you they have two others to make up for it.
Again, we all heard it before, but a couple years ago we just gave them, just signed the deed over, to our very first chapter house, Gamma Zeta.
They have had it filled the last couple years with other fraternities, and I drove by this weekend and the place is in shambles. The roof shingles are almost all completely off. Unfortunately they have made no improvements to the property at all.
The property itself is located on one of the most desirable locations in Amherst, Massachusetts second highest property values and if anyone knows Massachusetts, property values are HIGH. If sold today, the house would get at least 500,000 and possibly as much as $1 million depending on how high Umass-Amherst drives up the bidding.
Back on point. You always have to figure that there will always be some kind of "money pit" for LCAP.
I even have faith in them that in the near future that Gamma Zeta will turn into one of those "money pits" where they just throw money at it because of historical value.
For instance, there are alot of deep pocketed alumni out of GZ. Hyothetically, if they did throw alot of money into it, they may not see it returned directly, but there is a good chance of better alumni relations which in turn brings in more $$$.
And I'll even admit, Alpha and Gamma were "protected" chapters. It's true that there always will be. It's a business as well. It isn't fair.
Em1843 said it best in his quote.
But I look forward to the future. I'm really hopeful that GZ will someday become a crown jewel in LXA's roster. Of course, it's chapter designation will allow them some leeway no matter what IHQ says. But younger chapters can also think of it as an incentive to keep their chapter going and get that status themselves.
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