WE CONTINUE NOW WITH OUR SPOTLIGHT SERIES WITH J DANIEL PLUFF.

THE SERIES HIGHLIGHTS BUSINESSES AND PEOPLE DOING SOMETHING SPECIAL IN OUR AREA.

BUT TONIGHT WE HIGH LIGHT A CLOSURE.

IN 2022, CAZENOVIA COLLEGE ANNOUNCED THEY WOULD CLOSE THEIR CAMPUS - UNABLE TO MAINTAIN THEIR BUSINESS AND FORCED TO DEFAULT ON A BOND PAYMENT.

CLOSURES OF ANY BUSINESS CAN HAVE A NEGATIVE IMPACT ON THEIR COMMUNITIES, BUT FOR THE SMALL VILLAGE OF CAZENOVIA, THIS NEWS WAS ESPECIALLY DEVASTATING.

THE CLOSURE OBVIOUSLY IMPACTED FACULTY AND ADMINISTRATORS, AND STUDENTS FOR SURE - BUT ALSO THE SURROUNDING BUSINESSES AND VENDORS TO THE SCHOOL.

THE FULL REPERCUSSIONS WILL CONTINUE TO DEVELOP LEAVING MORE QUESTIONS THAN ANSWERS.

OUR J DANIEL PLUFF MET WITH COLLEGE PRESIDENT DR DAVID BERGH TO SEE JUST WHAT HAPPENED AND WHAT'S NEXT FOR THE ONCE BEAUTIFUL CAMPUS.

WE ALSO MET WITH DEEGE O'HARA, OWNER OF MC CARTHY'S PUB - WHO RELIED ON THE SCHOOL FOR MUCH OF HIS BUSINESS.

>> THE COLLEGE HAS BEEN AROUND FOR TWO CENTURIES AND NOW THAT THE ANNOUNCEMENT HAS BEEN MADE, YOU KNOW, IT HAD TO WEIGH ON YOU TO MAKE THAT DETERMINATION.

>> YEAH, INCREDIBLY SO, YEAH, I MEAN WE ARE THE HEART BEAT OF THIS COMMUNITY.

WE ARE THE ECONOMIC ENGINE OF THIS COMMUNITY, THE CULTURAL DRIVER HERE, IN ADDITION, OBVIOUSLY TO SERVING STUDENTS FOR NEARLY TWO CENTURIES AND BEING A MAJOR EMPLOYER.

SO ALL OF THAT WEIGHED, INCLUDING OUR ALUMNI AND THEIR EXPERIENCES HERE AND OUR FAMILIES IN ASSOCIATION WITH THE COLLEGE.

SO IT WAS A VERY DIFFICULT DECISION THAT THE BOARD HAD TO MAKE BACK IN DECEMBER WHEN THAT ALL TRANSPIRED.

AND I THINK, YOU KNOW, I'VE SAID BEFORE, I THINK IT WAS THE RIGHT DECISION AND A COURAGEOUS DECISION ACTUALLY BECAUSE BY DOING IT WHEN THEY DID, IT ACTUALLY MAXIMIZED THE AMOUNT OF TIME THAT OUR STUDENTS AND OUR EMPLOYEES HAD TO PREPARE FOR THEIR NEXT STEPS.

BUT ALSO HELPED US IN HAVING TIME TO PREPARE THE COMMUNITY FOR WHAT COMES NEXT.

>> IT OCCURS TO ME THAT PLACES LIKE THIS WHERE YOU HAVE THESE COLLEGE TOWNS IN A PUB OR A BAR RESTAURANT PROBABLY GET A LOT OF BUSINESS FROM CAZENOVIA COLLEGE, THE FACULTY, THE STUDENTS, ARE YOU EXPERIENCING THAT?

>> ABSOLUTELY.

WHILE THE COLLEGE WAS HERE, WE HAD TONS.

THERE IS A RIPPLE EFFECT.

NOT ONLY THE CAZENOVIA COLLEGE, IF HAMILTON COLLEGE IS COMING TO PLAY SOCCER, THEY COME IN HERE.

ANCILLARY SUPPORT FROM THE COLLEGE, THE TEACHERS, THE STUDENTS, IT WAS A WONDERFUL PLACE TO BE.

>> IT IS A GOOD POINT.

HAMILTON, COLGATE NOT FAR AWAY.

MORRISVILLE DOWN ROUTE 20, RIGHT.

SO YOU ARE...

IF YOU THOUGHT ABOUT IT, AND I DON'T KNOW IF YOU PUT PENCIL TO PAPER, BUT IS THERE A PERCENTAGE?

HOW MUCH BUSINESS CAME FROM THE SCHOOL OR THE OFF SHOOTS FROM THE SCHOOL?

>> YOU CAN PICK OUT THE STUDENTS.

15% OF OUR SUNTS.

THE ANCILLARY STUFF, WHETHER AGAIN IT'S A TRAVELING TEAM TO PLAY CAZENOVIA AND THEY SPEND THE WHOLE DAY HERE AFTER THEIR EVENT, YOU CAN'T QUANTIFY THAT.

THAT'S PROBABLY, I DON'T KNOW, BUT THAT WAS REAL MONEY.

>> YOU ARE LOSING NOT ONLY CUSTOMERS, BUT YOU ARE LOSING A SOURCE OF EMPLOYEES THERE, TOO.

>> IT'S REALLY GOING TO HURT.

I DON'T KNOW HOW WE REPLACE 45% OF OUR STAFF.

THE KIDS HAVE BEEN GREAT.

THEY'RE PULLING EXTRA SHIFTS.

WE HAVE A TIGHT KNIT GROUP OF 10 DIE HARDS FROM VARIOUS WALKS OF LIFE BUT THE COLLEGE KIDS REALLY HELPED US ON A DAY-TO-DAY BASIS AND THAT'S GOING TO HURT.

I DON'T KNOW HOW I'M GOING TO FILL THAT VOID.

>> THIS IS A SMALL COMMUNITY.

HUGE IMPACT TO THE LOCAL ECONOMY HERE.

AND WITH THE CLOSURE, YOU KNOW, WHAT ARE YOUR THOUGHTS ON THAT?

>> WELL, I THINK IF ANYTHING, UNFORTUNATELY, IT HAS BEEN UNDER ESTIMATED IN TERMS IN THE LOCAL COMMUNITY.

AND I SAY THAT, YOU KNOW, THE MOST RECENT NUMBERS WE GOT, SO CICU, THE COMMISSION ON INDEPENDENT COLLEGES AND UNIVERSITIES IN NEW YORK, THEY DO ANNUAL ECONOMIC IMPACT ANALYSES AND I THINK THE LAST YEAR THEY DID ONE FOR US, THEY DETERMINED OUR ESTIMATED ECONOMIC IMPACT ON THE IMMEDIATE REGION TO BE ABOUT $54 MILLION A YEAR.

SO IT'S SUBSTANTIAL.

>> I WOULDN'T HAVE GUESSED THAT MUCH BUT HOW DO THEY COME UP WITH THE NUMBERS?

THAT'S A BIG NUMBER.

>> IT'S A BIG NUMBER.

>> STUDENTS SPENDING MONEY, FACULTY SPENDING MONEY, THE SCHOOL SPENDING MONEY ON VENDORS... >> YEAH, TALKING ABOUT 250 EMPLOYEES HERE.

>> PAYROLL.

>> EXACTLY.

>> SO I THINK ONE OF THE REASONS I SAY THAT I'M AFRAID SOMETIMES THE IMPACT HAS BEEN UNDERAPPRECIATED IS THAT I'LL OFTEN HEAR FROM STORE OWNERS OR, YOU KNOW, FOLKS IN TOWN, WE DON'T GET THAT MUCH BUSINESS FROM THE COLLEGE.

BUT I THINK WHAT THEY'RE MEANING WHEN THEY SAY THAT IS WE DON'T NECESSARILY SEE A LOT OF COLLEGE STUDENTS OR PEOPLE WHO LOOK 18- 22 YEAR OLDS AND THAT'S THE IMPACT AND WHAT THEY'RE MISSING IS THE INCREDIBLE NUMBER OF PEOPLE WHO ARE IN THE COMMUNITY REGULARLY BECAUSE THE COLLEGE IS HERE.

>> I'M SURE A NUMBER OF FACTORS PLAYED INTO THIS, BUT IT SEEMS, AT LEAST FROM WHAT I'VE READ, THE FINAL BLOW SEEMED TO BE WE HAD THIS 25 MILLION-DOLLAR BOND PAYMENT DUE.

IN THE SCHEME OF A COLLEGE, $25 MILLION DOESN'T SEEM LIKE A LOT IN TERMS OF COLLEGE BUT IT SAYS TO ME THAT'S REALLY HOW CLOSE WERE YOU.

IT WAS RIGHT DOWN LITERALLY TO THE LAST FEW DOLLARS.

WOULD THAT BE SAFE TO SAY?

>> YEAH, I MEAN I THINK AT THE END, WHAT REALLY-- IT'S AS SIMPLE AS SAYING AT THE END WHAT HAPPENED IS WE COULDN'T FIND ANYONE IN 2022 ABLE OR WILLING TO EXTEND US LONG-TERM FINANCING, DESPITE THE FACT THAT GOING INTO THAT YEAR AND THROUGHOUT THAT YEAR, ALL THE EXPERTS WE WORKED WITH AND FOLKS VERY FAMILIAR WITH THE MARKET ASSURED US THAT WE WOULD.

AND THAT HAD TO DO WITH A COUPLE THINGS.

ONE WAS OUR OWN VULNERABILITY AND STATUS COMING OUT OF COVID WHICH HAD SIGNIFICANTLY WEAKENED US.

BUT ALSO YOU KNOW, NEW YORK TIMES DID A PIECE AT THE END OF LAST YEAR IN WHICH THEY TALKED ABOUT 2022 IS REALLY A YEAR MARKING A GENERATIONAL SHIFT.

>> CAN I PRESS YOU JUST A LITTLE BIT ON ENROLLMENT?

BECAUSE AS A COLLEGE PRESIDENT, WHY DO YOU THINK ENROLLMENT IS DOWN ACROSS THE COUNTRY?

IT'S NOT LIKE WE ARE LOSING POPULATION.

BUT IT SEEMS LIKE FEWER AND FEWER-- A LOT OF KIDS GO TO COLLEGE, I GET IT BUT ENROLLMENT ACROSS THE COUNTRY SEEMS TO BE GOING DOWN.

WHY DO YOU SUPPOSE THAT IS?

>> MYRIAD OF FACTORS INCLUDING PUBLIC PERCEPTIONS AROUND THE VALUE OF COLLEGE AND AS IT RELATES TO THE COST.

PARTICULARLY IF THE NORTHEAST AND MIDWEST, THERE IS A POPULATION DECLINE IN 18 TO 22 YEAR OLDS AND THAT'S ONLY EXPECTED TO BE MORE PRONOUNCED IN THE COMING YEARS.

THERE IS A TERM THEY'VE USED THE DEMOGRAPHIC CLIFF TO TALK ABOUT THIS, PARTICULAR WILL I IN 2025, WHERE WE ARE REALLY GOING TO BE SEEING A DRASTIC DROPOFF IN 18 YEAR OLDS ASSOCIATED WITH, YOU KNOW, THE FINANCIAL CRISIS INTERESTINGLY OF 2008 AND AROUND THAT TIME PEOPLE NOT HAVING AS MANY KIDS.

>> WAS IT SOMETHING THAT, IN THE BACK OF YOUR MIND, ANTICIPATED OR AN OH MY GOSH MOMENT.

>> IT WAS A SHOCK TO US.

MY DAUGHTER HAD TOLD ME FIRST AND SHE LIVES IN KENTUCKY.

>> I DIDN'T HEAR ANYTHING THERE.

WERE NO RUMBLINGS OF THAT.

>> IT WAS JUST ONE OF THOSE THINGS, I DON'T KNOW HOW THE FINANCE WENT BUT IT JUST-- THEY DID AS MUCH AS THEY COULD FOR AS LONG AS THEY COULD AND THEN IT WAS GONE.

TO US, THERE IS A LOT OF LONG FACES AROUND HERE FOR A COUPLE OF MONTHS KNOWING THE COLLEGE WAS LEAVING BUT WE ARE GOING TO BE READY AND WE ARE GOING TO BE HERE.

>> I SUSPECT THERE WERE LONG FACES UP AND DOWN THE STREET AND THROUGHOUT THE VILLAGE.

>> WITHOUT A DOUBT.

WE TALKED TO ALL OF OUR FELLOW PROPRIETORS AND THEY'RE THE SAME WAY.

CONFUSED, SCARED.

WE HOPE WE ARE GOING TO MAKE IT.

>> ON THE MONEY SIDE, I DID LEARN YOU PUT SOME MONEY INTO THIS PLACE, UPGRADES HERE AND THERE.

IN RETROSPECT, WOULD YOU HAVE SPENT THAT MONEY HAD YOU NO EN?

>> WELL-- HAD YOU KNOWN.

>> WELL, I WOULD HAVE.

TESTAMENT IS I JUST SPENT $3500 YESTERDAY TO BUY A NEW COOLER.

WE ARE NOT GOING ANYWHERE.

I'M HERE AND I'M CAZENOVIA PROUD.

>> DO YOU SENSE THAT, YOU KNOW, CAZENOVIA MIGHT NOT BE ALONE IN CLOSING?

DO YOU SENSE OTHER SCHOOLS ARE IN TROUBLE?

>> I DO, UNFORTUNATELY.

>> THAT SADDENS ME, TOO.

YOU LIKE, I LIKE THE SMALLER INSTITUTIONS.

>> THERE HAS BEEN NATIONALLY PROBABLY SIX TO EIGHT COLLEGES THAT HAVE ANNOUNCED THEIR CLOSURE, PRIVATE INDEPENDENT COLLEGES THAT HAVE ANNOUNCED THEIR PLANS TO CLOSE SINCE WE HAVE, I UNFORTUNATELY EXPECT THERE WILL BE MORE.

I HAVE ACTUALLY BEEN ASKED IF IT WAS SOMETHING WOULD I EVER CONSIDER CONSULTING IN IN THE FUTURE.

>> HAVING GONE THROUGH IT.

>> AND YOU KNOW, MY IMMEDIATE RESPONSE IS ONCE IS ENOUGH.

BUT I HAVE ACTUALLY HAD THE OPPORTUNITY TO TALK WITH COLLEAGUES AT SOME OF OUR SISTER INSTITUTIONS WHO ARE STRUGGLING BECAUSE OBVIOUSLY WE ARE A NETWORK THAT WANT TO SUPPORT EACH OTHER WHERE WE CAN.

AND I CERTAINLY, ANYTHING WE CAN DO TO HELP OTHERS AVOID GOING THROUGH THIS CIRCUMSTANCE, WE WANT TO DO.

>> YOUR BEST GUESS AS WE SIT HERE TODAY GOING INTO FALL, OR MAYBE I SHOULD SAY YOUR WISH LIST.

WHAT WOULD YOU LIKE TO SEE HAPPEN HERE?

>> WELL, SO MY WISH LIST WOULD BE SOMETHING LIKE THAT THAT COULD COME IN IMMEDIATELY TO IMMEDIATELY GIVE AN INFUSION OF PEOPLE AND RESOURCES AND MONEY INTO THIS COMMUNITY.

AND AT THE SAME TIME AND WOULD HAVE THE CAMPUS OCCUPIED AND THE BUILDINGS BEING USED AND AT THE SAME TIME THAT GIVING TIME FOR THE COMMUNITY AND FOR OTHER ENTITIES TO COME UP WITH A VIABLE LONG-TERM USE FOR THE CAMPUS WITHIN THAT FRAMEWORK.

SO MY IDEA WOULD BE IMMEDIATE USE, FOLLOWED VERY SHORTLY BY A VIABLE LONG-TERM USER FOR THE CAMPUS.

>> THE LAST GRADUATING CLASS RECENTLY LEFT.

WHAT ARE YOU GOING TO DO FROM HERE?

WHAT IS THE PLAN?

>> WE JUST TIGHTEN, TRY TO BUY BETTER, BUY SMARTER.

MAYBE SCALE DOWN THE LABOR IN THE BACK OF THE HOUSE, JUST TRY TO WORK SMARTER.

>> SOMETHING TELLS ME YOU ARE NOT GOING TO CLOSE.

>> I'M NOT CLOSING.

THERE IS NO WAY.

THIS IS THE LAST THING MY DAD DID.

MY DAD WAS AN ATTORNEY AND MY DAUGHTER APPROACHED HIM EIGHT YEARS AGO DAD, DAD, DAD, I HAVE TO BUY AN IRISH PUB IN CAZENOVIA OR MY BOYFRIEND IS GOING TO BE DEPORTED.

MY FATHER WAS LIKE YOU GOT A BOYFRIEND?

WHAT IS GOING ON.

MY DAD SAID HE WAS GOING HOME, CIRCLED THE BUILDING, PUT TOGETHER THE LEASE AGREEMENT, PUT TOGETHER THE BUSINESS AGREEMENTS AND PASSED AWAY 10 HOURS LATER.

THIS IS THE LAST THING HE DID.

I'M NOT LEAVING THIS PLACE.