The college and the town cooperate in many ways. One study suggested the Allegheny College generates approximately $93 million annually into Meadville and the local economy. Since 2002, Allegheny hosts classical music festivals during the summer. In October 2006, the college attracted negative publicity after local enforcement cited over 100 people for underage drinking at a college party. In July 2007, a 1,500-pound wrecking ball demolishing part of Allegheny's Pelletier Library broke its chain, rumbled down the hill, careened "back and forth across the street," hit nine parked cars, wrecked curbs, and crashed into the trunk of an Allegheny student's car, pushing his car into two cars in front of him. Eight soccer balls in his car "likely lessened the impact of the wrecking ball," and possibly spared his life, according to a police officer on the scene. The student body voted to name the library's coffee shop "The Wrecking Ball" after the event.