News out of the last DAA Board Meeting

Our Delta Alpha Association (Housing Board) continues to oversee the financing, maintenance, and improvement of our House at 1016 S. Main.  The financial results and balance sheet for our Chapter House were OK ten years ago and have improved every year since.  Today, we are in a very good financial condition.  

The budget for the current fiscal year was approved at the meeting.  It includes a $500 contribution to the Mountain City Alumni Club for Scholarship awards.

Our ten-year balloon mortgage is due this November.  Housing Board leadership is investigating financing options with several institutions and will refinance at that time.  Strategically, the Board intends to accelerate payments on the new mortgage to reduce debt and finance payments but maintain a sufficient cash balance to address significant maintenance or improvement requirements.  The target is to have the Chapter house mortgage paid off in approximately ten years.  

Brother Ross Pope has been and continues to play the critical role of Property Manager.   As we can all imagine and/or have experienced, it can be very challenging to engage directly in the maintenance, repair, and improvements of a large house, with twelve young men, as well as support and help assure collection of rents.  Thank you, Ross, for all that you do!!

DAA President Brian Rolfe has stepped down after 10 years of leading our Housing Board.  Thank you, Brian, for all you have done with the DAA and in so many other ways.

The newly elected board is President Doug Lyon, Vice-President Jeff Cunningham, Secretary Kevin Latondress, Treasurer Rick Overway, At-Large Jim Anderson, At-Large Gary Straus, and At-Large Scout Case.  Many of these Brothers have been active leaders in the past within the DAA, MCAC, and/or Committees as well as very active participants in MCAC and Chapter events.  Their continued leadership is amazing and appreciated. A special shout out to Scout Case (W’17) and Jeff Latondress (F’14 Founder member) for stepping into leadership roles as relatively younger alumni.