Le Moyne went through this entire process about 10-12 years ago - consultants and all - and determined the costs associated with it to be too exorbitant, without enough return on investment. I’d have to imagine that cost has risen exponentially since that time.
Beyond the approximately $2M application fee for reclassification, a significant upgrade in facilities would be required (I believe that number was in the $8-$10M range 10 years ago, so I’m sure it’s at least double that now). Additionally, last I knew, D1 members had to spend a minimum of $4M annually on athletic scholarships/grant-in-aid. Not an easy task for a small school like Le Moyne.