Community Development Header

Welcome to the OLDC Web Page

The Olean Local Development Corporation (OLDC) is a 501(c)(3) not-for-profit corporation that was formed at the direction of the City of Olean to work with local government on its efforts to create quality communities. Municipal officials and community leaders serve on the OLDC’s Board of Directors.


OLDC Audit Committee Charter (pdf)
OLDC Finance Committee Charter (pdf)
Annual Report Year Ending 5/31/2020 (pdf)

OLDC Certified Audit for FY Ending 2019 (pdf)
Report on Financial Statements Years Ended 2020, 2019
OLDC Report on Internal Controls 9/8/2018
Final Management Letter 8/28/2020 (pdf)
Governance Letter 8/28/2020 (pdf)

Assessment of Effectiveness of Internal Controls Report 2020 (pdf)
Audit Committee Report 2020 (pdf)
Ethics Officer Report 2020 (pdf)
Finance Committee Report 2020 (pdf)
Governance Committee Report 2020 (pdf)
Real Property Owned Report 2020 (pdf)


New OLDC 2021-22 Adopted Budget (pdf) New
OLDC 2020-21 Proposed Budget (pdf)
OLDC 2019-20 Adopted Budget (pdf)
OLDC 2018-19 Adopted Budget (pdf)
OLDC 2017-18 Adopted Budget (pdf)


OLDC Conflict of Interest Policy (pdf)
OLDC By-Laws (pdf)
OLDC Defense and Indemnification Policy (pdf)
Disposition of Property - OLDC (pdf)
OLDC Internal Control Assessment (pdf)
OLDC Organizational Flow Chart (pdf)
OLDC Policy Prohibiting Credit (pdf)
OLDC Purchasing Guidelines (pdf)
OLDC Salary and Compensation Policy (pdf)
OLDC Time and Attendance Policy (pdf)
OLDC Usage of Credit Cards/Charge Accounts (pdf)
OLDC Usage of Corporate Governance Concepts
OLDC Usage of Authority Discretionary Funds
Real Property Owned By the OLDC
New Whistleblower Policy (Updated pdf) New
Code of Ethics (pdf)


New Mission Statement and Performance Measurements 2021 New
Governance Committee Charter (pdf)