The Epsilon Property Association Treasurer, Brother Matthew L. Osborne (E-1261), has compiled a yearly expense report on the upkeep and maintenance of our chapter home at 1 Fair Street. Our single largest expense, by far, is the yearly mortgage premium covering the vacant property totaling $9,748.06 for the 2018 term ending in April of next year. The Property Association voted to move to an Actual Cash Value option lowering our payment to $6,079.00 and we have negotiated with the National organization pay in two installments.
Joining the Alumni Chapter is the first step toward ensuring that the property has the adequate funds we need from year to year. The Epsilon Alumni Chapter board has voted to forward all monies for the current dues cycle ending in June of 2019 to provide for the Property Associations continued maintenance in the absence of rental income and it is essential that we meet these goals.