September 7, 2020

From: Executive Board, Tau Alpha Kappa Alumni Association

To: Association Voting Members

Subject: 216 Warren Square sale updates and September 29 approval vote

August 6 Alumni Meeting: The meeting was held, with some fifteen Board & Voting members attending. Floor discussion included questions regarding the timing of the sale offer, and possible negotiation/alternatives prior to commitment. Though a tally of proxy votes and attending members indicated a majority in favor of sale; the Board voted to table the motion, to provide time for further consideration & dialogue. The Board instead approved a motion to open negotiations to sell the property.

Counter Offer Acceptance: During the meeting it was suggested the Association counter Lehigh's initial offer of $145,000. The University has accepted a counter offer of $175,000. The Executive Board recommends accepting this offer.

Membership Meeting & Vote: Notice is provided to join the Voting Membership teleconference meeting scheduled for 12:00 noon EDT on Tuesday September 29, to participate in the sale discussion and approval vote. After this, meetings will be scheduled to further discuss scholarship options. More information will follow through each step, and Board elections will be held during the Annual Meeting in November. For questions or discussion before the meeting, send a message to TAKLehigh@gmail.com and a member of the Executive Board will contact you. If you cannot join the meeting, complete and return this proxy for the September 29 vote (submit this even if you submitted a proxy in August).