ON THE MONEY WITH J. DANIEL PLUFF IS BROUGHT TO YOU BY THE MEMBERS OF WCNY.

THANK YOU.

COMING UP, SOME TIMELY TAX TIPS.

WE'LL DISTINGUISHED MARKET CORRECTIONS FROM BEAR MARKETS AND REPORT ON REALLY BIG NEWS FROM THE FINGER LAKES REGION.

ON THE MONEY BEGINS RIGHT NOW.

GOOD EVENING, WELCOME TO ON THE MORE THAN, WCNY'S FINANCIAL INCLUDE FINANCIAL AND ECONOMIC DEVELOPMENT PROGRAM.

I'M DANIEL PLUFF.

WE WANT YOU TO THINK OF THIS AS YOUR LOCAL FINANCIAL NEWS PROGRAM FEATURING SOME SOME INTERESTING PEOPLE, BUSINESSES AND HAPPENINGS FROM NEARLY EVERY CORNER OF CENTRAL NEW YORK.

DURING OUR SEASON, WE'LL SEE WHERE MONEY IS BEING MADE, SPENT AND LOST AND FOCUS ON PROJECTS AND ACTIVITIES AFFECTING ALL OF US LOCALLY.

OUR FIRST REPORT TONIGHT HIGHLIGHTS A BRAND NEW INITIATIVE, THE CENTRAL NEW YORK COMMUNITY FOUNDATION HAS BEEN AROUND FOR NEARLY A CENTURY.

AT ITS HEART, THE FOUNDATION IS A PUBLIC CHARITY THAT RECEIVES DONATIONS FROM PRIVATE DONORS, THEN DISTRIBUTES FUNDING TO LOCAL CHARITIES.

FOLLOWING PROTESTS AND CALLS TO ACTION AFTER THE DEATH OF GEORGE FLOYD, THE FOUNDATION WENT ABOVE AND BEYOND FOR THE COMMUNITIES THEY SERVE BY CREATING THE BLACK EQUITY AND EXCELLENCE FUND TO COMBAT SYSTEMIC RACISM.

THE FOUNDATION PLANS TO INVEST MORE THAN A MILLION DOLLARS FROM THE FUND TO ENSURE THE REGION'S BLACK COMMUNITY THRIVES.

THIS PAST FALL, CAFE SANKOFA, A WELLNESS COOPERATIVE ON SYRACUSE'S WEST SIDE RECEIVED $50,000 FROM THE FOUNDATION.

WE'LL SEE HOW THEY INTEND TO USE THE FUND WHILE AT THE SAME TIME FOCUSING ON BRING A COMMUNITY TOGETHER.

>> BLACK PEOPLE MAKE UP 14.2% OF THE NATION'S POPULATION.

YET ONLY 2.2% OF BUSINESSES HERE IN OUR NATION.

AND SO IT INDICATES THAT THERE IS AN UNDERINVESTMENT.

>> CENTRAL NEW YORK FOUNDATION IS A PUBLIC CHARITY THAT RECEIVES CONTRIBUTIONS FROM PRIVATE DONORS.

WE MANAGE AND GROW THOSE FUNDS OVER TIME AND THEN DISTRIBUTE THOSE FUNDS TO LOCAL CHARITIES TO HELP THE CENTRAL NEW YORK COMMUNITY THRIVE.

THE BLACK EQUITY IN EXCELLENCE FUNDS SUPPORTS FUNNING TOWARD ANY ORGANIZATION DOING WORK IN THE BLACK COMMUNITY THAT PROVIDES A POSITIVE QUALITY OF LIFE.

WE MADE A COMMITMENT TO PROVIDE $1 MILLION TOWARD THAT EFFORT.

TO DATE, WE ARE RIGHT AROUND ALMOST 800,000 DOLLARS.

I BELIEVE $798,000 TO BE EXACT.

>> ONCE WE RECEIVE THE APPLICATIONS, THE COMMITTEE CONVENES TOGETHER.

WE GO OVER ALL OF THE APPLICATIONS AND COME UP WITH A DETERMINATION AS TO WHAT ORGANIZATIONS WE FEEL BEST ADDRESS THE NEEDS THAT WE WANT TO ADDRESS DURING THAT FUNDING CYCLE.

>> IT TRANSLATES TO GO BACK AND GET IT.

IT'S ABOUT PROMOTING OWNERSHIP AND MAKING SURE THAT WHAT WE BRING INTO THE COMMUNITY STAYS IN THE COMMUNITY AND THAT IT GETS THE GROWTH IT DESERVES AND IS NECESSARY FOR OUR COMMUNITY TO THRIVE.

CAFE SANKOFA IS A CULTURAL AND CAFE COOPERATIVE LOCATED IN THE SANKOFA DISTRICT OF SYRACUSE AND OUR MISSION IS TO EDUCATE AND PROVIDE THE COMMUNITY WITH HEALTHY OPTIONS.

WE DO A LOT OF ADDRESSING FOOD INSECURITY, AND BECAUSE IT IS OWNED BY THE MEMBERS, WE REALLY TRY TO ENSURE WHAT THE COMMUNITY WANTS TO HAVE IN HAPPEN IN THIS SPACE HAPPENS IN THIS SPACE AND THAT IT STAYS IN THE COMMUNITY.

FORTUNATELY WE HAVE HAD A LOT OF PEOPLE AND ORGANIZATIONS DONATE TO CAFE SANKOFA AND THEN OUTSIDE OF THAT, WE HAVE APPLIED FOR VARIOUS DIFFERENT GRANTS.

THE BLACK EQUITY IN EXCELLENCE GRANT FROM THE CENTRAL NEW YORK COMMUNITY FOUNDATION, A BIG CHUNK OF IT IS GOING TO GO TO PAYING DOWN A PORTION OF OUR MORTGAGE AS WELL AS OPERATIONAL EXPENSES JUST SO THAT WE HAVE THE MONEY TO INVEST BACK INTO COMMUNITY PROGRAMMING.

MOST NOTABLY WE HAVE BEEN DOING OUR COMMUNITY GARDEN, REALLY TRY TO UPLIFT THE TRADITION OF BLACK FARMING AND REALLY STRESSING THE IMPORTANCE OF KNOWING WHERE YOUR FOOD COMES FROM GROWING YOUR OWN FOOD.

SO THERE IS A LITERACY COMPONENT AS WELL AS THE COMMUNITY GARDEN.

WHAT WAY CAN WE PROVIDE ADDITIONAL SUPPORT TO PEOPLE WHO MIGHT NOT HAVE A SPACE WHERE THEY FEEL WELCOMED OR COMFORTABLE AND SO WE ARE HOPING THAT CAFE SANKOFA CAN BE THAT COMMUNITY HUB AND SAFE SPACE.

>> THAT'S REALLY, I THINK THE WHOLE POINT OF THIS FUND, IS REALLY TO REACH ORGANIZATIONS THAT WE OTHERWISE MIGHT NOT HAVE BEEN ABLE TO REACH AND FORMING NEW CONNECTIONS IN THE COMMUNITY >> A LOT OF PEOPLE REFER TO THE SOUTH SIDE AS, YOU KNOW, WITH DEFICIT BASE LANGUAGE.

YOU SEE A LOT OF PEOPLE TALK ABOUT THE CRIME, A LOT OF PEOPLE TALK ABOUT IT BEING A FOOD DESERT BUT WE ARE VERY RESILIENT AND WE ARE RICH WITH RESOURCES, RIGHT?

WE NEED TO HELP IMPROVE THE ECONOMIC MOBILITY OF COMMUNITIES THAT HAVE BEEN HISTORICALLY DISENFRANCHISED AND UNDERREPRESENTED FOR HUNDREDS OF YEARS.

SOMETIMES IT'S JUST AN ORGANIZATION OR PARTNERSHIPS INVESTING THE TIME AND THE MONEY TO REALLY SEE HOW WE CAN FULFILL THE DIFFERENT NEEDS IN THE COMMUNITY.

>> NEXT UP, OUR COMMON SENSE PIECE AND I SHOULD BE MORE UPBEAT AND POSITIVE IN THIS SEGMENT BUT I THINK WE ARE IN THE WORST SEASON OF THE YEAR AND THAT IS TAX SEASON.

NEW CHANGES THIS YEAR, SOME NEW THINGS TO KNOW.

HELPING US THROUGH SOME OF THAT IS JIM KRAUS, CERTIFIED PUBLIC ACCOUNTANT AND ATTORNEY WITH KRAUSE AND BARONE CPA.

WE HAVE TALKED IN THE PAST ON ANOTHER SHOW BUT I WANT TO GET YOUR ADVICE TONIGHT.

PEOPLE ARE FILING TAXES RIGHT NOW.

WHAT DO WE NEED TO KNOW?

>> IT'S THE MIDDLE OF MARCH.

PEOPLE LA'EL ONLY HAVE ANOTHER MONTH TO GO BEFORE THE DUE DATE.

THEY CAN GET AN EXTENSION IF THEY NEED IT.

WE ARE TELLING PEOPLE TO GET THEIR INFORMATION TOGETHER, GET IT TO US AS SOON AS YOU CAN.

IT'S GOING TO BE A LOG JAM AT THE END OF THE ROAD ON APRIL 18.

WE DON'T HAVE THE EXTRA TIME.

WE HAD EXTRA TIME LAST TWO YEARS.

WE DON'T HAVE IT THIS YEAR.

EVERYONE SHOULD BE LOOKING TO DO ELECTRONIC FILING.

EVERYONE SHOULD MAKE THEIR PAYMENTS ONLINE THROUGH THE I.R.S.

OR NEW YORK STATE WEBSITES.

NO MORE PAPER FILING.

NO MORE CHECKS IN THE MAIL.

>> YOU SAID IN THE PAST, THERE IS QUITE A BACKLOG.

A LOT OF PAPERWORK IN TRACTOR-TRAILERS WAITING TO BE VIEWED.

>> THE I.R.S.

HAS DOWNSIZED THEIR STAFF.

IT'S A MESS.

PEOPLE ARE SENDING IN PAPER RETURNS LIKE OUR FATHERS DID AND THEY DESCENDENT HEAR FOR A YEAR.

THE I.R.S.

IS VERY BEHIND.

DON'T DO THAT.

ELECTRONIC IS THE WAY TO GO.

>> I'M GOING TO HAVE YOU BACK, MORE TIPS AND MAYBE ROTH CONVERSIONS AS WELL, WHICH IS A BIG TOPIC.

JIM, THANK YOU VERY MUCH FOR BEING WITH US.

>> THANK YOU, DAN AND GOOD LUCK WITH YOUR NEW SHOW.

IT'S AWESOME.

>> THANK YOU.

UP NEXT, NEW TECHNOLOGIES BEING DEVELOPED OR USED HERE IN CENTRAL NEW YORK.

HEADQUARTERED IN NORTH DAKOTA, START-UP COMPANY AIRTONOMY ENABLES COMPANIES TO COLLECT DATA UNIFORMLY, USING AUTONOMOUS VEHICLES LIKE DRONES WITH A SINGLE PUSH OF A BUTTON, TECHNICIANS, POWER LINEMEN CAN COLLECT DATA THAT CAN THEN BE PROCESSED INTO ACTIONABLE INTELLIGENCE FOR THEIR RESPECTIVE BUSINESSES.

BUT WHY ARE WE FOCUSING ON A COMPANY FROM NORTH DAKOTA?

BACK IN LATE OCTOBER, AIRTONOMY WAS THE WINNER OF THE GENIUS NEW YORK BUSINESS COMPETITION.

THE GENIUS NEW YORK PROGRAM IS THE WORLD'S LARGEST BUSINESS COMPETITION FOCUSED ON UNMANNED SYSTEMS AND OTHER TECHNOLOGY-BASED SECTORS.

WE'LL TAKE A LOOK AT HOW THIS PROGRAM IS AIMING TO TRANSFORM THE REGION'S LANDSCAPE BY ATTRACTING THE NEXT GENERATION OF ENTREPRENEURS.

>> HI MY NAME IS Dr. JOSHUA REIDY, C.E.O.

AND FOUNDER OF AIRTONOMY.

AIRTONOMY IS A SOFTWARE THAT ENABLES ROBOTS, DRONES IN PARTICULAR, TO COLLECT DATA FOR THE PURPOSE OF ARTIFICIAL INTELLIGENCE WITH PEOPLE DOING IT WITHIN AN EXISTING REGULATORY FRAMEWORK WHICH ONLY REQUIRES THEM TO PUSH A SIMPLE BUTTON.

THAT MAKES CAPTURE OF DATA HIGHLY UNIFORMED WHICH ARTIFICIAL ARTIFICIAL INTELLIGENCE LOVES.

WHAT MAKES US UNIQUE IS THAT WE HAVE A UNIFORM APPROACH, MEANING THAT LARGE ORGANIZATIONS THAT HAVE MULTIPLE ASSET TYPES, UTILITIES AND ENERGY COMPANIES, CAN USE ONE SOLUTION FOR ALL OF THEIR NEEDS TO HARNESS ROBOTS, TO GATHER DATA ON AN AS NEEDED BASIS AND PROCESS THAT DATA USING ARTIFICIAL INTELLIGENCE.

AIRTONOMY HAS TRANSFORRED THE U.S. LANDSCAPE-- HAS TRANSFORMED THE U.S. LANDSCAPE BY ALLOWING ANYONE TO OPERATE EQUIPMENT.

WE TAKE PEOPLE WHO HAVE NO EXPERIENCE FLYING DRONES OR ROBOTS AND THEY CAN USE IT AS A TOOL NOT UNLIKE ANYTHING ELSE IN THEIR SERVICE VEHICLE.

WHAT THAT ALLOWS IS OUR CRITICAL ENERGY SERVICE INFRASTRUCTURE BETTER MAINTAINED BY USING THE POWER OF DRONES AND ROBOTS AND ARTIFICIAL INTELLIGENCE ON AN AS NEEDED BASIS RATHER THAN RELYING ON THIRD PARTY SERVICE COMPANIES TO DO THAT WORK ON AN ANNUAL BASIS.

FOR US, GENIUS NEW YORK EXEMPLIFIED THE BEST OF THE BEST , AN ACCELERATOR TO ENHANCE WHAT WE DO.

THEY'RE A GREATER ACCESS TO RESOURCES SUCH AS PEOPLE AND INVESTMENT FUNDS.

>> GENIUS NEW YORK IS THE WORLD'S LARGEST BUSINESS ACCELERATOR COMPETITION FOR UNCREWED SYSTEMS.

ITS MISSION IS TO ATTRACT AND TRAIN TAIN HIGH GROWTH-- RETAIN HIGH GROWTH TECHNOLOGY START-UPS FOR SYRACUSE.

IT IS FUNDED BY EMPIRE STATE DEVELOPMENT THROUGH THE UPSTATE REVITALIZATION NOICIALT HOUSED AT THE TECH GARDEN AND WE ATRACK ABOUT 600 APPLICATIONS A YEAR TO THE PROGRAM.

WE INVEST IN FIVE FINALISTS EVERY YEAR AND WE INVEST $3 MILLION INTO THEM.

SO ONE COMPANY GETS A MILLION DOLLARS AND OTHER COMPANIES GET HALF A MILLION DOLLARS.

>> GENIUS NEW YORK, $1 MILLION PRIZE HAS FILLED A VALUABLE ROLE FOR US ALLOWING US TO SCALE AS WE RAISE WHAT IS CALLED OUR SERIES A ROUND OF $15 MILLION.

IT HAS BEEN VITAL TO, IN ESSENCE, RAMP UP OUR HIRING.

SINCE THE GENIUS NEW YORK FINALS, WE HAVE NEARLY DOUBLED IN SIZE.

>> THE FUNDING THAT GETS INVESTED INTO THESE TEAMS DEFINITELY JOLTS THEM TO THE NEXT STEP.

IT HELPS THEM GO TO MARKET.

HELPS THEM GAIN CUSTOMERS AND WE ARE SEEING RESULTS.

WE ARE SEEING JOB GROWTH.

WE ARE SEEING THEM GET TO THE NEXT FUNDING.

OUT OF OUR 26 COMPANIES THAT WE HAVE INVESTED IN, WE HAVE SEEN OVER $80 MILLION IN FOLLOWUP FUNDING AND OVER 60 UPDATE JOBS CREATED.

WITH AIRTONOMY, WE ARE GOING TO SEE THEM GO FOR THEIR SERIES A AND THEY'RE TRULY MAKING THE ENERGY AND INFRASTRUCTURE SECTOR JOBS EASIER, SAFER, MORE PRODUCTIVE.

THEY'RE GETTING DATA TO THESE COMPANIES AND WHAT THEY'RE DOING IS PHENOMENAL.

>> FOR OUR BY THE NUMBERS SEGMENT, WE THOUGHT DEFINITIONS WOULD BE IN ORDER TONIGHT GIVEN THE VOLATILITY THAT WE ARE SEEING IN THE FINANCIAL MARKETS.

WALL STREET DOESN'T REALLY CLEARLY DEFINE WHEN THE MARKET GOES UP WITH A RALLY OR A BULL MARKET, BUT ON THE WAY DOWN, THEY GET PRETTY SPECIFIC.

IF THE MARKET DECLINES BY 10% OR MORE, THAT'S TECHNICALLY CONSIDERED A CORRECTION.

ANYTHING IN THAT 10 TO 20% RANGE, A CORRECTION.

BUT WHAT HAPPENS IF WE DECLINE BY MORE THAN 20%?

WELL THEN THAT'S TECHNICALLY CALLED A BEAR MARKET.

ANYTHING IN EXCESS OF 20%, THAT'S A REAL DOWNTURN AND WE HAVE SEEN A FEW OF THOSE OVER THE YEARS.

OVER THE PAST 50 YEARS, IN TERMS OF CORRECTIONS, WELL, WE'VE HAD ABOUT 21 OF THEM.

BUT ONLY SEVEN BEAR MARKETS IN THE LAST 50 YEARS.

JUST SOMETHING TO KEEP IN MIND AS WE GO THROUGH THIS QUARTER AND THROUGH THE REST OF THE YEAR.

WE CLOSE OUT TONIGHT WITH OUR SPOTLIGHT SERIES WHERE WE MEET SOME INTERESTING PEOPLE FROM ALL OVER THE REGION.

YOU KNOW, MANY OF US TAKE SO MUCH FOR GRANTED LIVING HERE IN CENTRAL NEW YORK, EASY WORK COMMUTES, GOOD SCHOOLS AND A REASONABLE COST OF LIVING.

BUT PERHAPS MOST OVERLOOKED, OUR BEAUTIFUL LANDSCAPES AND PRISTINE WATER FROM OUR FINGER LAKES.

SOME IS SO CLEAN, IT'S DRINKABLE WITHOUT FILTERING.

BUT THE LAND AND THE WATER ARE NOT TO BE OVERLOOKED.

AND FORCES BOTH HUMAN AND NATURAL, ARE CAUSING PROBLEMS AND SLOWLY DETERIORATING THESE PRECIOUS ASSETS.

THE FINGER LAKES LAND TRUST IS PROVIDING SOME HELP.

THIS NON-PROFIT ACQUIRES LAND IN AN EFFORT TO PRESERVE THE BEAUTY, RESOURCES AND PUBLIC ACCESS TO THESE PROPERTIES.

NOW, OVERSEEING 28,000 ACRES THROUGHOUT THE FINGER LAKES REGION, THE TRUST RECENTLY ACQUIRES NEARLY 500 ACRES ALONG CAYUGA LAKE.

LAND ONCE DESTINED FOR A NUCLEAR POWER PLANT.

ANDREW ZEPP, EXECUTIVE DIRECTOR OF THE FINGER LAKES LAND TRUST SHARED THIS RECENT ACQUISITION WITH IT ALONG WITH THE TRUST'S ONGOING GOALS AND PEGGY COLEMAN, VICE PRESIDENT TOURISM ITHACA JOINED IN AS WELL.

SPOILER ALERT.

THE SCENERY IS BREATHTAKING.

THIS ROAD WAS THE COTTAGE ROAD BEFORE NUT RIDGE WAS A FARM LANE, SO THE COTTAGES THAT ARE THERE, THIS IS THEIR ORIGINAL ACCESS.

IT HAD A FJORD ACROSS THE CREEK.

IT PREDATES THE MAIN LAND FOR THOSE WHO MAYBE DON'T HAVE A FULL UNDERSTANDING, THE FINGER LAKES LAND TRUST, IN A SENTENCE, DOES WHAT?

WHAT IS YOUR MAIN PURPOSE?

>> WELL, WE WORKED COOPERATIVELY WITH LAND OWNERS TO FIND THE WIN-WIN SOLUTIONS TO CONSERVING THE LANDS THAT ARE PRIVATELY OWNED BUT REALLY MAKE UP THE CHARACTER OF THE REGION.

AND THAT MEANS WE ACQUIRE LAND AND ESTABLISH CONSERVATION AREAS OR USE A TOOL CALLED A CONSERVATION EASEMENT TO LIMIT DEVELOPMENT ON LAND THAT REMAINS IN PRIVATE OWNERSHIP.

>> HOW DO YOU DECIDE WHAT TO GET AND WHAT DO YOU DO WITH THE LAND?

>> FIRST WE START FROM WORKING FROM THE MUNICIPAL PLANS, STATE PLANS AND COUNTY PLANS THAT EXIST.

WE SERVE A 12 COUNTY AREA AND THERE IS A CONSENSUS ON WHAT LANDS ARE IMPORTANT.

THE SOUTH END OF SKANEATELES LAKE IS VALUED FOR MANY DIFFERENT REASONS BUT EVERYBODY AGREES IT'S A SPECIAL PLACE.

WE LOOK AT HOW TO APPLY THE TOOLS THAT WE HAVE TO CONSERVE THOSE LANDS.

AND THAT INVOLVES PARTNERSHIPS WITH LOCAL GOVERNMENT, OTHER NON-PROFITS, STATE CONSERVATION AGENCIES AND SO ON.

ALL GOOD SUBSTITUTE BUFF WE ARE HERE BECAUSE THERE IS BIG NEWS.

AND FROM WHAT I'M HEARING, THE BELL STATION PROPERTY LAND THAT WAS OWNED FOR QUITE SOMETIME BY NEW YORK STATE ELECTRIC AND GAS, 470 ACRES, ALMOST 500 ACRES OF LAND GOING INTO THE TRUST.

HUGE.

>> TEMPORARILY BECAUSE THIS IS A COLLABORATION WITH NEW YORK STATE AND THIS DATES BACK, ACTUALLY NYSEG ACQUIRED THE LAND 50 YEARS AGO AND IT WAS SLATED FOR A NUCLEAR POWER PLANT THAT DID NOT GO OVER TOO WELL HERE IN ITHACA I BELIEVE.

SO THIS LAND IS UNDEVELOPED.

FEATURES 3400 FEET OF SHORELINE.

>> THAT'S A LOT.

>> AND IT'S THE LARGEST REMAINING UNDEVELOPED PRIVATELY OWNED PROPERTY ON ALL OF THE FINGER LAKES.

SO WE, BOTH WE AND THE STATE OF NEW YORK OR THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, HAD LONG IDENTIFIED THAT IT IS A PRIORITY FOR CONSERVATION, BUT TO MAKE IT PUBLICLY ACCESSIBLE SO WE ARE MOVING FORWARD TO ACQUIRE THE LAND BUT ON BEHALF OF THE STATE BECAUSE WE CAN MOVE A BIT MORE QUICKLY AND WE WILL THEN CONVEY THE SHORELINE TO THE STATE FOR A PUBLIC WILDLIFE MANAGEMENT AREA WHILE LOOKING AT UTILIZING A PORTION OF THE PROPERTY AWAY FROM THE LAKE FOR POSSIBLE SOLAR ENERGY.

>> ASIDE FROM JUST THE SIZE AND THE EXPANSIONIVE-- EXPANSIVE SHORELINE, IS THERE SOMETHING ABOUT THE PROPERTY THAT HAD YOU REALLY EXCITED?

IF WE WORK ON ALL 11 FINGER LAKES, AND MOST OF THE LAKES WERE DEVELOPED LONG AGO SO TO HAVE THAT STRETCH OF SHORELINE, AND ALSO VERY BEAUTIFUL SHORELINE.

IT IS VERY ACCESSIBLE, BEAUTIFUL WATERFALLS.

IT'S A SPECTACULAR SPOT.

>> PEGGY COLEMAN, THANK YOU FOR SITTING WITH US IN DOWNTOWN ITHACA.

THANK YOU FOR TAKING TIME WITH US.

3400, I THINK 3400 FEET OF FRONTAGE ALONG THE LAKE.

THAT'S A DRAW FOR PEOPLE TO COME IN AND ENJOY THE LAKE IN A PUBLIC DOMAIN.

>> EXACTLY.

UP TO THIS POINT, WE HAVE BEAUTIFUL STEWART PARK WHICH IS AT THE VERY SOUTHERN END OF CAYUGA LAKE, BUT THERE IS NO-- YOU CAN KAYAK THERE.

YOU CAN RUN TO-- RENT A KAYAK OR PUT ONE OF YOUR OWN IN.

THERE IS ALSO MIRES POINT, WHICH IS A PUBLIC PARK BUT IT'S, YOU KNOW, CAPACITY IS PRETTY LIMITED AND THEN THERE IS ALSO ON THE WEST SIDE, THERE IS THE PUBLIC SWIMMING AREAS ON THE WEST SIDE OF THE LAKE.

BUT REALLY ON THE EAST SIDE OF THE LAKE, IT'S VERY LIMITED.

>> THIS OPENS UP A LOT FOR YOU.

>> HUGE.

>> PROPERTY NOT BEING DONATED BUT PURCHASED.

>> CORRECT.

>> COST?

>> NOT ABLE TO DISCLOSE THAT AS PER THE PURCHASE AGREEMENT.

UNTIL AFTER THE CLOSING.

>> IF WE TOOK THE UNDER AND OVER ON A MILLION DOLLARS, COULD YOU TELL ME THAT?

>> I THINK SAFELY IN EXCESS OF A MILLION DOLLARS.

>> HERE'S WHAT IS INTERESTING ABOUT THAT.

NYSEG ESSENTIALLY MADE THIS DEAL WITH YOU, FOR LACK OF A BETTER PHRASE, RIGHT?

AND THERE WAS A PERIOD THERE WHERE NYSEG WAS ACTUALLY GOING TO PUT IT OUT TO BID, IF YOU WILL, TO AUCTION.

AND I HAVE TO WONDER, IF I'M IN THEIR SHOES, I PROBABLY COULD HAVE-- I'M GUESSING BUT PROBABLY COULD HAVE GOT MORE MONEY FOR THE PROPERTY IF I PUT IT OUT, SO TO SPEAK.

THEY DIDN'T DO THAT.

>> WELL, YES, AND THIS IS A CASE WHERE THE PUBLIC UTILITY SUBJECT TO STATE OVERSIGHT, WE MADE THE POINT THAT THE PUBLIC BENEFIT WAS BEST SERVED NOT BY THE TOP DOLLAR FOR THE SALE OF THE PROPERTY IN THE YEAR 2021 THAT WAS PROPOSED, BUT INSTEAD, THE COMBINATION OF THE LAND TRUST PAYING A FAIR MARKET PRICE BASED ON APPRAISAL, NOT AN AUCTION BUT APPRAISAL, COMBINED WITH CREATING PUBLICLY ACCESSIBLE SHORELINE, CONSERVING STEEP SLOPES THAT IF DEVELOPED COULD CONTRIBUTE TO THE TOXIC ALGAE PROBLEM WE HAVE.

AND LASTLY, MAKE SOME LAND AVAILABLE FOR A SOLAR ENERGY PROJECT THAT IS SUPPORTED BY THE LOCAL COMMUNITY.

SO WE SUCCESSFULLY MADE THE CASE OF THAT IMIPTION OF BENEFITS,-- THAT COMBINATION OF BENEFIT EXCEEDED A SIMPLE SALE.

>> BACK TO THE COST, WHERE WILL THE MONEY COME FROM BECAUSE IT'S A BIG NUMBER.

WHERE WILL IT COME FROM?

>> WE HAVE BEEN FORTUNATE THROUGH OUR DONORS, WE HAVE CREATED AN INTERNAL REVOLVING LOAN FUND.

AND THEN ALSO THE PARK FOUNDATION HAS MADE A LOW INTEREST LOAN AVAILABLE TO US.

SO THAT WILL GIVE US THE ABILITY TO PURCHASE THE LAND AND THEN WE HOPE TO COVER THOSE FUNDS THROUGH A SALE OF THE SHORELINE TO NEW YORK STATE, WHICH WILL BE BASED AGAIN ON AN APPRAISAL PROCESS FOR THE CREATION OF THE PUBLIC CONSERVATION AREA AND THEN THIS OTHER PORTION OF THE PROPERTY, TO REALIZE SOME PROCEEDS WHEN IT'S USED FOR SOLAR.

>> BUT TO BE SPECIFIC, THAT SHORELINE ONCE IT IS TURNED OVER OR SOLD TO THE STATE, IT WILL BE FOR PUBLIC USE.

KAYAKING, BOATING, FISHING, WHATEVER.

AND THAT GOES ON FOREVER.

>> YEP.

>> HOW DO YOU QUANTIFY THAT ECONOMIC BENEFIT?

BECAUSE YOU KNOW, SOMEONE COMING INTO SWIM OR YOU ARE SAYING THEY'RE STAYING IN HOTELS BUT MAYBE SPENDING MONEY IN RESTAURANTS.

IS THAT THE KICKER?

>> YES, WE KNOW THAT BASED ON WHAT OUR VISITORS DO AND THEY'VE SHARED WITH US WHAT THEY'RE SPENDING THEIR MONEY ON.

SO THEY ARE ABSOLUTELY, THEY'RE OPTING FOR MORE LUXURIOUS ACCOMMODATIONS.

I AM NOT KEEPING OUT ANY OF OUR CAMPERS BECAUSE THEY'RE ENJOYING OUR CAMPING AREAS AS WELL, INCLUDING OUR GLAMPING.

>> SOME OF THAT CAMPING IS VERY LUX CURIOUS.

>> IT'S LIKE A HOTEL ROOM ON A PLATFORM.

THEY'RE ALSO EATING IN THE RESTAURANTS.

THEY'RE GOING TO THOSE WINERIES AND SO THEY ARE ENJOYING THE NATURE, BUT THEY'RE ALSO ENJOYING THE THINGS THAT OUR NATURE SUPPORTS LIKE GOING ON A LAKE TRIP ON DISCOVER CAYUGA LAKE AND DOING A BOAT RIDE ON THE LAKE.

THEY'RE GOING TO THE WINERIES THAT SURROUND CAYUGA LAKE.

>> THE WATERFALL OVER HERE HAS MASSIVE CHUNKS OF LIMESTONE AT ITS BASE AND IT'S QUITE DIFFERENT THAN THE CHARACTER OF OTHER WATERFALLS IN THE AREA.

>> IT SEEMS TO ME AS WE WRAP UP, IT SEEMS TO ME, MY GUESS, A BIT OF A DUAL MANDATE HERE, IF YOU WILL AND THAT YOU WANT TO CONSERVE THE LAND, PRESERVE AND CONSERVE THE PROPERTY BUT ALSO HAVE THIS ECONOMIC IMPACT SO TO SPEAK.

DO YOU VIEW IT THAT WAY?

IS THAT A GOOD WAY?

>> ABSOLUTELY.

AND THAT IMPACT INCLUDES QUALITY OF LIFE AND RETENTION, RECRUITMENT AND RETENTION, BRINGING PEOPLE TO THE REGION, INCLUDES TOURISM AND THEN IT INCLUDES AGRICULTURE AND FORESTRY, WHICH ARE STILL MAJOR, YOU KNOW, ECONOMIC ACTIVITIES.

AND LAND CONSERVATION BENEFITS ALL.

>> YOU MENTIONED THE LAND STAYS WITHIN THE TRUST ON A FOREVER BASIS.

HOW DO WE KNOW, ANDY, THAT 10 YEARS FROM NOW, 25 YEARS FROM NOW, THESE LANDS THAT YOU HAVE PROTECTED, ESSENTIALLY REMAIN PROTECTED?

>> WELL, FORTUNATELY, THANKS TO OUR DONORS, EACH YEAR WE ARE ADDING TO OUR ENDOWMENT TO TAKE CARE OF THOSE AND WE ARE ALSO AN ACCREDITED INSTITUTION SO WE GO THROUGH A PERIODIC ACCREDITATION TO MAKE SURE WE ARE CONFIDENT IN WHAT WE ARE DOING.

WE TAKE HEART IN KNOWING THE OLDEST LAND TRUST IN THE COUNTRY IS NOT TOO FAR AWAY, IN MASSACHUSETTS.

THE TRUSTEES OF THE RESERVATION ARE MORE THAN 100 YEARS OLD.

WE LEARN FROM EACH OTHER AND ARE VERY DILIGENT ABOUT MAKING SURE THAT WE ARE GOING TO BE HERE 100 YEARS FROM NOW.

>> THAT'S OUR SHOW FOR TONIGHT COMING UP NEXT WEEK, SOME THOUGHTS ON MAXIMIZING YOUR 401(K) PLAN AND AN AUTO DEALER WARNS US THE RISK OF BUYING VEHICLES OVER STICKER PRICE.

AND ONONDAGA COUNTY EXECUTIVE RYAN McMAHON.

WE HAVE A LOT COMING YOUR WAY THIS SEASON.

TO FIND OUT MORE, WIST OUR WEBSITE AT WCNY.ORG/ON THE MONEY AND FOLLOW US ON FACEBOOK AND TWITTER.

FROM ALL OF US AT ON THE MONEY, I'M DANIEL PLUFF.

THANKS FOR WATCHING.