Beta Theta Pi - Oklahoma State University

Think Back. Think Big. Think Beta. 3 Ø Projections of house rentals have been studied as we look at other new fraternity and comparable housing. Ø Also, there are now additional efforts, meetings, and task groups that are working hard to engage our brotherhood into moving forward with their support for our project and to make their decisions to assist us in achieving our goal. Prospect lists are being updated (remember we were all prospects before becoming donors). Ø The preconstruction project cost before financing, as previously noted, is estimated at $6,300,000 which includes a contingency fee of $200,000 as mentioned. This does not include possible building cost reductions from value engineering that can play a significant role in reducing costs and is performed by construction management in the subcontractor bidding process. The general contractor and structural engineer may make contributions for cost savings as well. Of course, the actual cost of the house will only be known at the conclusion of the project but the budget will be monitored on an ongoing basis. The financing relevant to moving into a new house before reaching the long-term debt portion of the project includes the construction period interest, some additional long-term debt which includes financing for yet-to-be-collected pledges and rollover debt. Debt Financing – At this time, the new Beta house cannot be built without financing. Beta brothers have prepared Financial Executive Summaries and data for loan applications for lending institutions as we shop for financing for long-term debt and interim financing during construction. Now Is the Time – Some brothers understandably have been watching to see whether we all can make this happen. Some brothers have reflected for some time on what their commitments will be. Our professional consultant at Pennington indicated early on that only 25% of the chapter would participate, which is based on the large statistical database Pennington has accumulated. Those of you that have seen giving charts know that to build a Greek house, it requires large, medium, and small gifts. One brother who some of us have warmly smiled about has donated to the campaign. His gift isn't large; he is 93 years old and has been a brother since 1938. One can only conclude that he is a shining example of a true Beta for life - still caring about his Beta experience is wonderful to see after 79 years have gone by. He keeps rolling along. Most of you that have read this update had a favorable Beta experience. We would ask that you consider now giving back what you can so that other men can have similar memories and friends for life. Yours in _kai_, The Campaign Committee, The Building Corporation, and The Campaign Volunteers Site Plan Front Elevation First Floor Second Floor Third Floor New Chapter House Plans

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