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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.

Status Description Issue Date Deadline
Open Request for Proposal

LOCATION: Olean Local Development Corporation
Professional Auditing Services
CONTACT: Community Development (716) 376-5647

1/6/2022 1/28/2022


OLDC Audit Committee Charter (pdf)
OLDC Finance Committee Charter (pdf)
Annual Report Year Ending 5/31/2021 (pdf)

OLDC Certified Audit for FY Ending 2019 (pdf)
New Report on Financial Statements Years Ended 2021, 2020
OLDC Report on Internal Controls 9/8/2018
New Engagement Letter 2021 (pdf)
New Final Management Letter 11/16/2021 (pdf)
New Governance Letter 11/16/2021 (pdf)

New Assessment of Effectiveness of Internal Controls Report 2021 (pdf)
New Audit Committee Report 2021 (pdf)
New Ethics Officer Report 2021 (pdf)
New Finance Committee Report 2021 (pdf)
New Governance Committee Report 2021 (pdf)
New Real Property Owned Report 2021 (pdf)


 OLDC 2021-22 Adopted Budget (pdf)
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
Whistleblower Policy (Updated pdf)
Code of Ethics (pdf)


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