Phi Kappa Psi - University of Texas

Due Diligence Binder

Texas Alpha Chapter of Phi Kappa Psi Fraternity at the University of Texas

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Campaign FAQs • Will I be reminded of my payment due date? We will send payment reminders 30-60 days in advance of the payment being due and then a payment reschedule notice in January for the missed payment for the previous year. Housing, Construction, and Facility Management • What is the construction timeline? e current plan is to break ground no later than January 1, 2015 with the conclusion of work targeted for the spring 2016 semester (February). e townhomes will be open and occupied except when the renovation work will be scheduled. • Is there temporary housing in place for the undergraduate chapter? Texas Alpha is fortunate in that it owns the Honors Townhomes and leases the property at 2411 Longview. While it's clear this building will not support living accommodations for the entire chapter membership, it will provide the men a central location near campus to gather for meetings, rituals, and brotherhood events. is will not hinder the Chapter's current level of operations. • What will happen to the Chapter while the house is being built? During the construction of the new house, the chapter will continue to operate between as-is with the Honors Townhomes and 2411 Longview open for business as usual. • What is the facility management plan? In other words, how do I know my gi won't go to waste? e Texas Alpha House Board and Texas Alpha Management Corporation has dramatically changed its view of how to manage the current and new facilities. Over the last 18 months, the board has restruc- tured itself, completed a strategic plan including a number of new committees, stressing consistent com- munication with our alumni, and proactively managing our facilities and relationship with the under- graduate chapter. e following details policies we've implemented as well as those we plan to implement with the new house: o Property Management Policies – policies and standards have been developed regarding property management and the appropriate/acceptable uses of the Chapter House. ese policies have been adopted by the undergraduate chapter and enforced by the Texas Alpha House Board and the undergraduate members. o Increase House Bills – undergraduate rent will be increased to become better aligned with University and Austin area housing. Once the new house is complete, Texas Alpha will have the premiere facility on campus and will charge a premium rent in order to live there. o Full-Time Live In Advisor – the Texas Alpha House Board will hire and employ a live-in, full- time house mother/ graduate assistant/ house dad to help manage the property as well as provide guidance and advise to the undergraduate chapter. o Check-in / Check-out Procedure – performed at the beginning and end of each academic year to ensure the undergraduate men leave their rooms in the same condition as they found them. o Damage Deposits – collected from each undergraduate before he is permitted to move into the Chapter house. Refunds of security deposits will not be made until damage and professional cleaning costs have been deducted at the end of the spring quarter.

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