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I would like to hear the REAL version of facts.
In my own experience, LCAP WASTED and was taken advantage of by contractors for tens of thousands of dollars on "improvements" to GZ. Improvements that weren't necessary.
1. LCAP takes advantage of the volunteers and lack of communication.
2. Probably, LCAP put mortgages on the property that LCAP refused to settle/dicharge and the value was based on that.
Also, didn't I read somewhere in the news that something about housing values going down? I may have heard someting about the economy as well. I don't think it was on the front page. Maybe someone else has heard something about the economy.
3. See 1.
4. LCAP's debt and "improvements" usually make it impossible for a chapter to re-buy the house and the only way any money can be made is to sell the house to a developer to level it and build houses/condos.
It's the USE that matters. A developer is to make money, the FRATERNITY operates as non-profit and is there to provide adequate housing. The property is worth more as something other than a fraternity. So naturally a developer would offer more.
2. LCAP is a business...they say that AFTER they get the house. BEFORE it you are "brothers".
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