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 o Capital Improvement Fee – a one-time fee assessed to any new resident of the Chapter house. e fee is non-refundable and will be set aside in a Capital Improvements Fund to be used only for capital replacement needs such as carpet, furnishings, fixtures, or equipment. o New website to improve communications with alumni, parents, candidates for membership, and active members. • How will the property be secured? e new Chapter house will have a fully-functional fire-suppression system, along with a security alarm and video surveillance system for when the house is shut down over the summer and winter breaks. e final details for the daily security of the house have not been finalized. • How much will the undergraduates have to pay (semester)? In House Member (33) o $1,956 Dues + $4,812 Rent + $783 for meals = $7,551 / semester Out of House Member (133) o $2,766 Dues + $783 for meals = $3,549 / semester • Will the house be opened during summer and winter breaks? e short answer is no. While the house has served as an affordable housing option for those brothers who stay in Austin while school is out of session, the reality is the Texas Alpha House Board needs this time to perform the necessary maintenance to properly maintain the house. Additionally, during the breaks it is far more difficult to ensure the security of the property as the has been, and is, a significant issue. Although the main house will be closed, a few of the Honors Townhomes will be open during the summer for accomplished upperclassmen attending summer school. • Why are all of the rooms the same size? e rooms on the 3rd floor are singles sharing a common bathroom. e Honors Townhome concept will create more of a group living environment intended to bring upperclassmen to the new Phi Psi House. • Are these the final plans? e drawings being discussed were designed to ensure the Texas Alpha House Board can efficiently and effectively manage the property. Based on the findings of Connelly Architects and the feasibility study, this is the house we can build and manage for the money we believe we can raise. is concept is maxi- mizing every square inch of available space on the new lot. • Will part of the old house be incorporated into the new house? ere are components in the current house that mark the times of Texas Alpha and a select group of alumni have expressed a desire to ensure historical components of the house are maintained and properly integrated into the new house. Examples of this include some of the lighting fixtures and the wood panel- ing in the front entry to name a few.

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