Beta Theta Pi - University of Minnesota

Fall 2016 Newsletter

Beta Pi Chapter of Beta Theta Pi at the University of Minnesota

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New Beta badge rugs welcome visitors to the enhanced chapter house. the betA Piper PAge 2 A few select bedrooms were included in the renovations as a test for future renovation of all bedrooms at a later date. The first-floor townie bedroom and second-floor president's room and ante room received new flooring, utilities, renovated walls, and lighting. In the rest of the bedrooms, most remained untouched except for new sinks, cabinets, and fire sprinkler heads. On the outside of the building, one can see marked improvements to the historic brick structure, which was in rough shape. We have done extensive restoration work to deep clean the exterior and replace eroding bricks, worn out mortar, and broken limestone. Additional work will come in the future. Thank You, Brothers Several brothers were instrumental to the summer work and deserve our thanks! Local architect Bill Madden Jr. '86 was employed with us through the spring and summer months of this project. Bill's vision and knowledge were instrumental to helping us make wise choices and maximize value for our alumni donations. Cian Chase '08 and Adam Gilman '06 supported several projects. Longtime House Corporation and campaign volunteer David Stiff, Indiana '77 led financial matters to secure new loans and replace the old mortgage. More Renovations Needed Despite all the renovations, we estimate another $250,000 to $500,000 is needed to renovate more spaces such as the bedrooms, chapter room, kitchen, etc. On the exterior, continued improvements are desired to improve security, enhance the brick fa├žade, and add new landscaping features. Alumni Support Continues Chapter members and volunteers are so thankful for $750,000 in contributions by alumni and other supporters that made this work possible. All Beta brothers should be proud of the state of the chapter house, the undergraduate chapter, and the significant impacts made by our brotherhood. In _kai_, Branden Peterson '05 (612) 963-2989 bp1681@gmail.com CHAPTER REOPENS AFTER BIG IMPROVEMENTS (Continued from page 1) The second- and third-floor hallways are much brighter thanks to new LED lighting, new carpets, and freshly painted walls. Inside the brand-new first-floor men's room. Alumni, Please Help Us Fund Future Projects and Retire Debt I n addition to alumni gifts supporting the renovations, the society also acquired significant financial lending support from local banks, the University of Minnesota Foundation, alumni brothers, and the chapter. At time of publication, the society carries more than $761,159 in debt, which is the most debt in our organization's history. Beyond our contingency planning, several urgent and necessary projects came forward after walls were opened up and extensive remodeling was underway. This increases cost and scope of work extensively. Examples included mold removal, asbestos abatement, and enhancing building and property security. The debt increase was expected, considering the extent of renovations and organizational expenses. Thankfully, we benefited from low interest rates for loans. Our financial position now requires that we must stress the importance of continued success by the active chapter, and support by alumni to continue giving back to Beta Pi in the years to come. Since capital campaign efforts began in 2013, alumni and supporters have given $476,981 to date. THANK YOU, brothers! We expect to collect an additional $283,744 in upcoming years, as campaign pledges are fulfilled and new donations are made. As a collective brotherhood, we are all making a huge impact and lasting legacy for our chapter. Thank you for your support. This milestone achievement of a renovated chapter house marks a great time in Beta Pi history!

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