Adopted by the Board of Directors, February 19, 2008
The Olds Institute of Community and Regional Development (OICRD) is an independent public community development governance board incorporated under the Societies Act of the Province of Alberta and sanctioned by the Town of Olds.

Building on the support of the four founding Essential Members (Olds Agricultural Society, Olds & District Chamber of Commerce, Olds College, and the Town of Olds), the Institute generates significant synergy within the community by encouraging collaboration between the Essential Members and other community stakeholders so that the sum is greater than each of the individual contributor.

The Institute facilitates community consultations with stakeholders. These stakeholders include, but are not limited to, business owners and operators, investors, educators, providers of government and health services, seniors, youth, spiritual organizations, recreation organizations, tourism organizations, arts and cultural organizations, communication and technology providers, elected officials, volunteers and residents of our community and region.

The Institute ensures all community development decisions and recommendations are assessed as to the impact they will have on the economic, social, educational, cultural, environmental and political dimensions to realize a balanced growth and to increase the wealth of the community and region.

The Institute supports the building of community capacity which is represented by skills, knowledge and the ability to find the tools to accomplish this.

The Institute supports the sustainability and growth of our business community, making community development decisions and recommendations based on the greater good of the community as a whole, while respecting the individual outcomes of the Essential Members of the Institute.

The Institute is committed to financial sustainability by establishing sources of income that give it the freedom to initiate, support and follow through on good community development ventures and initiatives.

The Institute recognizes the confidentiality required by many development initiatives, and ensures discussions and consultations on these issues are in-camera and with any board members having a potential conflict of interest removing themselves from the meeting and discussions.

The Town will seek the input and recommendations of the Institute on issues of community development. To support the Institute, the Town's CAO will facilitate the provision of relative information and data requested by representatives of the Institute as expeditiously as possible.