Word: sigma
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...Although Sigma Chi claims to have lived up to financial expectations, the Pi Etas disagree. Since the turnover rate for the undergraduate group’s management is so high, communications over finance reports have often been sporadic. And though Sigma Chi often proposed capital improvements, many times these changes were not made or deferred to subsequent years. Pi Eta also points to the weak ties between the groups: “A not insubstantial part of the motivation for entering into the arrangement with Sigma Chi was to foster the undergraduate-alumni relationships that had long been...
...Sigma Chi does not really buy these excuses. According to one of the court documents, the Sigma Chis have looked into the Pi Etas’ motivations for selling the house and have concluded that their claims are false: “Upon information and belief, the real reasons why the Pi Eta Alumni Members had decided on their own to sell the House was [sic.] because the real estate market in Cambridge had experienced unprecedented growth recently and the Pi Eta Alumni Members wanted to liquidate the asset and reap the appreciation while the market remained so strong. Additionally...
...meantime, the house is still vacant and very much for sale. At the April 18 meeting in which the Pi Etas voted the Sigma Chis out of the corporation, the board discussed an offer of $3.3 million from noted philanthropist Gregory Carr. He proposed to use the historic building as a headquarters for his human rights education foundation. Soon, though, he realized that the site was not big enough to suit his purposes, so the building was again up for grabs...
...Sigma Chi put together several bids, as did some commercial developers and the Seneca. None has gone through...
Since the College has no ties to Pi Eta or Sigma Chi, Illingworth and other Harvard administrators are staying out of the matter. “They’re all outside my orbit although they involve Harvard students,” he says. “I don’t have jurisdiction over the Catholic Church either. As much as I’d like to make things better, I don’t have the power to effect that...