The end of LCAP

[Tom Earp]

EE-BO, thank you for your knowledgeable input.

Yes he and I talked quite a bit about this and the things and difference between our two great organizations.

He has a true grasp of the situation and fully understands what we as Housing that has come up with the LCAP fiasco.

I am sure most will agree that the inseption was a great idea, but the way it was run is what has created this major mess.

GammaZeta and I have discussed the Zeta situation several times and I have been in contact with a Brother from Shippensburg and another from Un. Mo. about their situations, and am agahst with the ineptitued that was dropped on them like huge bomb.

Now a major flag ship Un. (Mi) is up against a wall! Basically losing the houseing which in most instances means losing the Zeta.

When it comes to House Corporations ( I was a member for 12 years), this keeps IHQ out of it and it also shouild give the power of getting leases sign sealed and delivered, not IHQ (LCAP).

In reading some posts, as I was told in a PM, we all have the same problem!

It is lip service given to Alumni, House Corp. and when meetings and ultimatums are given when we leave, then it is back to the same old, same old! Ignoring in the nth degree!

It is still a two street between the Alumni and Active Chapter and if one falls, both fall. But, when you throw in a third such as LCAP was, that is a totally different spin and really throws/threw every thing out of sync!

I have made some recommendations to IHQ so that Zetas could keep the property but I am afraid that the time in point has come to late.

So, my question is, who should bite the bullet on this?

The past members, current members, or possible future members?

[lenoxxx]

I was curious to see what happened to all of the people affected by this.

Any random updates?

[Sigma1844]

I heard that Michigan State (Gamma-Omicron Zeta) has reached an agreement with LCAP in which they will once again own their house.

We at Sigma are currently trying to strike a deal to take back the deed to 1601 Washtenaw Avenue even though the Fraternity owns our house and LCAP just manages it.

And I agree, the work being done by the current board has been expedient and well-communicated with the GHZ. Unfortunately their job is to liquidate the properties. The folks who should be taking the blame on this are long gone from LCAP. I won't name names publicly, but if you're an interested party you already know who screwed the pooch on this. Brother Mike Smith is doing a very efficient job cleaning up their messes.

[Forgotten Zeta]

personally, i'm glad that nobody had control over our house but our own chapter. we've been able to keep our house what it is because we decided to fix what was broken and hold ourselves accountable. do we really need a higher power to come in and fix our broken shit? fraternity has nothing to do with where we live, but how we live and how we treat our fellow brothers. the house is just a tool in this quest. i, however, have never been to any ihq meeting. i don't think i'll ever be invited.

[lambdachi1100]

From what I heard recently, Michigan State's chapter Gamma-Omicron has been put on the open real estate market as a final agreement by the alumni and LCAP was not successful.

[lenoxxx]

Im dredging up this thread.


FRONT AND CENTER

I articularly enjoyed Shane Foley's post that the GHZ read this forum, but it isnt a good place to discuss this from a few years back.

If you are on the GHZ and you read this, and you have a hand in what is happening at Michigan State right now, you should be ashamed of yourself.

And if you are reading this and it upsets you personally, well then good- you deserve it!

zax

[GammaZeta]

Amen Leno,

Too often our Administrative employees and the GHZ drink the punch and refuse to open their eyes to reality unless it is through rose colored glasses.

If you thought Government was bad in the way it operates with patronage, politics and financial spending, then you haven't seen Lambda Chi Alpha!

[lenoxxx]

Tried to post on the C&C article about Montana State....

Long story short for those that are asking-

LCAP was "Lambda Chi Alpha Properties"- started about 10 years ago to let a separate corporation affililiated with Lambda Chi Alpha own and manage LCA chapter houses. At one time they had about 15 houses under their banner. Due to gross mis management and incompetent employees, they ran their balance sheet into teh ground and then they decided -with no notice- to liquidate all properties in 2007 and go out of business destroying untold amounts of lost alumni equity in real estate entrusted to them by individual chapters.

On a LCA bulletin board this has been debated here

http://www.greekchat.com/gcforums/sh...ad.php?t=91715

...and also here extensively with links to news articles from East Lansing about the Michigan State Chapter's house being sold out from under them to a developer.

http://www.greekchat.com/gcforums/sh...d.php?t=111777

My chapter lost about 40-50 thousand dollars over this fiasco by trusting and investing with LCAP at Shippensburg University's now defunct chapter. It's a story that isnt being told except in news articles and online Bulletin Boards with folks that were affected by it talking.

On the "end of LCAP thread" I referenced, a former staff member talks about it, and then is banned from talking about it anymore, interesting stuff to read and check out. U Mass, Montana State, Shippensburg, and Michigan State all got hit hard, I cannot speak much for the other chapters, but it was a bad deal from the get go- poorly run and managed, and then ended with a total melt down that took chapters and historic houses out with it. The news articles out of East Lansing are appalling to read if you are a Brother of our Bond.

On a good note about 90% of the chapter memorabilia we had was saved from the LCAP fiasco, and subsequent destruction of our LCAP house by the undergrads which was again due to house mis-management by LCAP not securing the property and having no plan to sell it after putting it on the market and having no tenants. Of course the undergrads were awful as well, and it was what closed the chapter in 2008.

But unlike my brother at Dayton, we still have our stuff under lock and key- about two U-Hauls worth of it. Thank goodness for that silver lining. We'll be back, so check us out on www.phitauzeta.org and on facebook- you can link to our group from our website.

Long winded, but it's a real story about a real chapter's fall from grace, and you all asked for it!

zax
lenoxxx