Kappa Alpha Theta - Purdue University

Planning fo w W hile the Alpha Chi experience is certainly more than the bricks and mortar of the chapter house, 607 Russell Street does play a significant role in the Theta experience. It is the home where we learned our shared Theta values, and it continues to be the place where lifelong memories and friendships are made. Our home on Russell Street has been the center of the Alpha Chi experience for 56 years. Built in 1957 to replace the Littleton Street house and expanded in 1992, the house has served the chapter well. It has become clear, however, that a major investment is needed if Alpha Chi Theta is to provide a quality living environment and remain competitive on campus in the years ahead. The Challenge The 1992 expansion successfully addressed the facility needs at that time by increasing occupancy from 64 to 100. Alpha Chi alumnae responded generously to the need—over $615,000 was donated toward the project. The chapter house was enlarged, allowing Alpha Chi to remain competitive with other newly built and expanded houses. The final project cost was just over $2 million. Alpha Chi's Purdue Home Corporation (now known as the Alpha Chi Facility Corporation) secured a loan to finance the remainder of the project. The debt service on that mortgage has been an enormous burden. It has required a disproportionate amount of the annual Facility Corporation budget, making it impossible to accomplish many of the refurbishments that should be undertaken to keep 607 Russell Street safe, appealing and attractive. Purdue University President Mitch Daniels visiting 607 Russell Street, September 2013 Our Plan for 607 Russell 2015 is an important year for the Alpha Chi Chapter: We celebrate the centennial of our founding in 1915 and our mortgage is due. It is the perfect time for us to honor our past and secure our future by holding a Centennial Campaign to put the Alpha Chi Chapter back on solid financial ground. After careful study and assessment, the members of the Alpha Chi Facility Corporation Board have developed a two-part plan to cover the critical needs of the Alpha Chi chapter house at 607 Russell Street. 1. Debt Reduction This is our priority objective. The mortgage is due in 2015. The goal is to make a significant reduction in the outstanding debt which currently exceeds $900,000. Then a new mortgage can be negotiated for the remaining balance, one that is not only smaller but also offers more flexible payment terms.

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