03-20-2004, 03:41 PM
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GreekChat Member
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Join Date: Apr 2002
Location: "...maybe tomorrow I'm gonna settle down. Until tomorrow, I'll just keep moving on."
Posts: 5,715
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Quote:
Originally posted by dakareng
I don't know which, if any campuses, Pi Phi still owns a house after the chapter has left. The decision is based partly on whether or not we think the chapter would ever come back. NY ALpha is a good example of that. When they recolonized at Syracuse in the late 80s, Pi Phi still owned the original NY ALpha house (AO Pi was renting it). That information is something that either the Director of Chapter House Corporations or GVP Finance would know. If a house is sold, the proceeds are held in trust for a number of years for use if a chapter recolonized. Otherwise, the money goes back to the Fraternity. For example, the DC Alpha awards were funded from the proceeds of the sale of the house at George Washington Univ.
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Would they ever use that money to purchase a house for another chapter?
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