The "Reason to be Proud Campaign" is pleased to announce that the Board of Directors of the Phi Sigma Kappa Association recently voted to proceed with the house renovation project. While we have a long way to go, I want to thank all the supporters of the Campaign. We would not be at this stage without your support.

We now have just slightly under $950,000 in donations and pledges for the Campaign, an increase of over $ 200,000 since the summer. Fantastic, way to go!!!

While we fell slightly short of our $ 1 million goal, the Board concluded that we came very close and have a viable enough project to proceed. The Board also approved seeking a $ 1.2 million loan for the project. Steve Courter ('77) and the Campaign finance folks are now preparing the loan application. Dave Hyland ('80) and the Building Committee are working with our architect on the bidding documents for the project. We intend to close the house and start construction in early January, and be ready to re-open for the Fall 2008 semester.

We are not out of the woods yet. Total project costs are likely to exceed $ 1.5 million, so we have over a half million dollar gap between total costs (expected) and total pledges received so far. This gap can grow once we see the responses to the bidding documents that we will distribute soon. Costs can further increase once work commences and the walls and ceilings of our 80 year old house are torn down and replaced. We still need much more financial support to make this project successful. The more we raise, the more we can include in the project. We really do not want to pare back the proposed project renovation/redesign project, since almost all of it is really designed to comply with life/safety requirements and to enhance the living experience at Kappa Chapter. We will place on our website soon drawings of the proposed redesign of the House and details of the proposed project.

If you have not made a pledge yet, we ask you: did you benefit from your living in the house and being a member of Kappa Chapter? If so, will you help support our efforts to preserve Kappa Chapter for future generations?

Will you be our Million Dollar Man? If you pledge $ 50,000 now and get us to the million dollar level, you will be recognized on our Phi Sig Hall of Fame plaque that honors all donors as our Million Dollar Man. If two people pledge $ 25,000 each, both will be recognized as our Million Dollar Men. If we reach $ 1 million through smaller contributions, no special mention will be made. The Million Dollar Man designation is for that person (or two people) who get us over this important milestone NOW. When we started this project, many doubted we could even raise more than $ 750,000. We want to build on this success.

Do you have sons who are not college age yet? If they go to Penn State and want to consider a fraternity option, Kappa Chapter will be a choice for them. In the present condition of the house, which is clearly showing its 80 year old age, I am not sure many of you would let your son live in Kappa Chapter. Our proposed renovation will provide a long lasting, improved living experience for Kappa Chapter actives. I should also point out that many members of the Campaign leadership either do not have sons or have sons who have long since graduated from college. Yet, we all came together to work hard to help preserve our fraternity. We have supporters from as far away as Alaska (one of our two top donors, Kevin O'Leary) and Denmark (Tom Wylonis). They obviously do not live close by to visit the house regularly, yet they and many others have not let geographic separation dim their love of and appreciation for Kappa Chapter, nor what the experience at Kappa did to enhance their lives.

I hope you will help support our Reason to be Proud Campaign. I will gladly answer any questions you may have, or direct you to the person who can answer your questions. Thanks!

Fraternally,

Bill DeGrandis, '77
(202) 551-1720 -- work
(703) 450-5176 -- home