Thanks to your generosity, I am pleased to report that we blew past our $1.4 million target and have now collected more than $1,478,167 in donations and pledges! We collected more than $200,000 in the final 48 hours before our deadline.
I am also pleased to report that our loan will be closed and recorded today and the new house will be open in August, 2013! Demolition of the old house is tentatively scheduled for August 13th and construction of the new house will begin on September 4th. We hope to have a formal groundbreaking ceremony in September and we will send out that information as soon as it is finalized.
While today is a great and historic day for Tau Chapter, our work is not done. We will continue to raise funds until our $2 million campaign goal is met or exceeded. In the coming months, we will provide detailed information regarding the financing of this project. While the Chapter can afford the current obligations, we need to minimize the debt of the Chapter to the best of our abilities.
Many thanks to all who have extended the helping hand during our Fraternity’s hour of greatest need. It’s great to be a Tau.