The statement did not reveal details on the specifics of the plan, but it's expected the Board of Trustees will discuss the viability of the plan and its implementation during its executive session Friday.
Those elected to the Alumni Council will serve from July 1, 2017 to June 30, 2020.
Beta Theta Pi's former Penn State chapter filed a motion Friday asking the Centre County Court of Common Pleas to hold Centre County District Attorney Stacy Parks Miller in contempt.
A portion of ticket proceeds from the June 13 game against the Colorado Rockies will be donated to THON.
"Ultimately, we hope and pray that somehow peace will come to the Piazza family. They deserved so much more from the young men Tim sought to join in the name of friendship and brotherhood."
To honor Tim's legacy, the Piazza Foundation will raise money to help people in need of prosthetic devices and provide a scholarship for a student at Hunterdon Central regional high school.