EI Chapter House Expansion Criteria

January 2003 Update

We've gone through a lot of the bureaucratic hurdles toward getting building permit, but the scope of the expansion and the funding, given the existign size of the undergraduate brotherhood, has been called into question.

See the House Expansion Committee report in PDF format, and also a zip file of Jared's financial analysis.

October 2001 Update

Brothers, alumni and undergraduate alike, are awaiting the house expansion. The blueprints are ready, but are the finances? We are trying to develop a set of dispassionate criteria to decide.

During the July 2001 alumni meeting, a set of criteria were discussed. The House Expansion Committee was left to hammer out the exact details, which it did during a meeting on 8/18/01. The criteria were mildly revised during the 3 to 3 alumni meeting. The page lists the state of affairs after the alumni meeting of 10/20/01. If you have input, contact either David Manthey or Jim Muhr.

House Expansion Criteria Committee Report (amended 10/26/01)

Psi Upsilon Alumni Association

Based on a meeting held on 8/18/01. In attendance were:
Bob Corell, EI 334
James Muhr, EI 350
Kate Konapka, EI 415
Sandy Lucas, EI 416
Edward Hitchcock, EI 420
Soze Lakinger, EI 483
David Manthey, EI 410, meeting chair


The decision to go ahead with the house renovation and expansion involves such a large financial commitment on the part of alumni association that it is hard at a large meeting, such as Three-to-Three or Founders' Day, to have a rational and productive discussion as to whether or not to proceed. Therefore this ad-hoc committee was formed to establish clear criteria to guide the executive committee in a go or no-go decision on house renovation and expansion. These criteria will be introduced at the next executive committee meeting (at Three-to-Three in October) for approval.

Quick Summary:

The committee is pleased to report the following:


The first three criteria must be met by the January meeting. All other criteria must be met by the April meeting (Founders' Day). Additionally, all criteria must look like they can be met on time (i.e., if it seems impossible to meet an April criterion on time when it is in January, we can't proceed).

January criteria:

April criteria:

Additional items:

Needed funds:

At present we have approximately $34000 in the 47k fund. We need at least 20 % of the new mortgage amount plus closing costs (1 %, according to Marine Midland, other banks may vary. Note that there is also a fee of 2 %, but that this is part of the mortgage amount, not required for closing). Also, we need at least enough that the above criteria will be met. The mortgage amount will vary based on the current interest rate. While Marine Midland said that their corporate mortgage rate was a half point over prime, the prime rate fluctuates (we can always hope the economy tumbles). Any extra decreases the mortgage load and decreases the amount we need to raise rent. It has been suggested that the original goal of $47000 would be ample (unless the prime rate shoots up unexpectedly), which would require raising another $13000. While less will be needed if the prime rate holds steady or declines, if we aim for this target value we know we can proceed with the expansion.

8/31/01-DWM, with help from the rest of the committee. Updated 10/26/01 based on the 10/20/01 alumni meeting.

Relevant Data

Information you might want to know.

Maintained by [ EMAIL ] David Manthey, EI 410.
Last updated 1/22/03.