Page 1 - Cla Delta Spotlight - Fall 2008

Cal Delta Spotlight USC House Corporation of Phi Delta Theta | Fall 2008 | University of Southern California Alumni Offce | P.O. Box 80828, Atlanta, Georgia 30366 | www.phideltatheta-caldelta.com SPECIAL CONSTRUCTION ISSUE “Restoring the Legacy” Construction/Financing Update Campaign Update By Stephen Scully ‘81 ’m pleased to report Oltmans Construction is going onstruction on our chapter house at Ithat the fnancing full speed ahead with our project! The CUSC is underway and is scheduled for the restored house plumbers and electricians are now doing to be completed by September of 2009, is completely in place. all necessary work under the foor, and allowing current chapter members a place In the current economic the foundation is being completed. As to call “home.” I am sure you will enjoy climate, it took longer soon as the foundation is fnished, the looking at the construction progress shown than anticipated to framers will begin their work (by the in the photos in this newsletter! Upon fnalize everything, time you receive this, the framers will completion, all Phis will have an enormous sense of but Cal Delta now has full agreement have already started). We are defnitely pride in the new house. This is an unprecedented project for a loan from City National Bank, and on schedule for our planned fall 2009 on the Row – your fnancial support is very appreciated another loan (with extremely favorable move-in for the chapter members. and will help ensure that we are successful. So far, more than $1,600,000 has been pledged terms) from the University of Southern If you already made your pledge and towards our goal of $2.5 raising million for this historic California. The House Corporation have started payments – thank you. It is project. My thanks go out to all Phis who have already also had equity from the insurance because of you that the bank agreed to made a pledge. If you have been considering your own payment from the house fre, so we are our loan. If you have been considering a pledge in support of the campaign, now is the time. in excellent shape with fnancing to pay pledge, please make it now so we continue Financing has been arranged, but we must reach our Oltmans Construction as they continue to have favorable information to share fundraising goal in order to leave the chapter with a their work. with the bank, and more importantly, manageable mortgage. We need your support! Please note that meaningful we continue to have cash fow and can We need everyone to consider the best pledge campaign pledges from all Cal Deltas use that and pay off our loans as soon as (payable over fve years) that they can possibly make. will be necessary to allow us to pay off possible. This project is happening, and we want and need it all of these loans and leave the chapter to be successful, so please think big – all pledges and with a manageable mortgage. donations are very much appreciated. In order to raise nearly $1 million more, we need all of you to consider meaningful pledges. If you pledge $2,500 or more, your gift will be routed through the University and will be tax- deductible. If you are interested in being a campaign volunteer, please let me know. We strive to reach all alumni through mailings, but our best fundraising work is done when one brother contacts another to encourage him to support Cal Delta! Thank you! Yours in the Bond, Bill Mitchell ‘77 Steering Committee Chairman bmitchell@bergerkahn.com (949) 474-1880 x213 P.S. Please also be sure to email our Account Manager at caldelta@tlgcampaigns.net with your name, graduation year, and email address – our records of mailing addresses are much better than our email address records and we want to be able to email you additional campaign and construction updates! See page 4 for more details.