Quote:
Originally posted by bekibug
So I saw something about fraternity houses, and now I have a question about the Tuscaloosa Housing Corp. I know they still give 3 scholarships to AXiD's attending school in Alabama every year, but where do they get the money? I know we used to have a house on Sorority Row at 'Bama. Is it being leased to another sorority? If so, if Alpha Xi is ever recolonized at UA, what would the other sorority have to do?
Just curious, and bored.
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I really don't know anything about this, but I'm going to take a guess re the scholarship.
They probably have an endowment for xx amount of dollars, and the scholarship is awarded from the interest earned on that amount. For example, if they have a $50,000 endowment, and it earns $3,000 in interest this year, that means they can give out three separate $1,000 scholarships (using 3 since you said they give out 3). Since they're incorporated as a Housing Corporation, I don't think they have to have a chapter to support in order to exist.
I'm sure that there's a provision in the lease that should we ever recolonize, the sorority (I guess Gamma Phi Beta) would have to vacate the house for our use.
edited b/c apparently I can't type today.
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