ALBANY, N.Y. — New York Governor Kathy Hochul's office announced on Monday the formation of an exploratory committee to consider a potential joint bid by Lake Placid and New York City for the 2042 Winter Olympics. The committee will evaluate the two locations as co-hosts for the Games.

The committee is expected to complete its work in approximately one year. Its formation does not indicate New York is officially part of the Olympic bidding process. Ashley Walden, president and CEO of the Olympic Regional Development Authority, will chair the committee.

Governor Hochul stated, "The time is now to return the Olympic flame back to New York." She added, "Milano-Cortina showcased the immense possibility that comes with a dual city Olympic Games." Lake Placid previously hosted the Winter Olympics in 1932 and 1980, while New York City has never hosted the event. New York City submitted bids for the Summer Games in 1984 and 2012.

United States Senator Charles Schumer said, "Lake Placid holds a long and special place in Winter Olympic history." Julie Su, New York City's Deputy Mayor for Economic Justice, will represent the city on the committee. She said, "It's every opportunity to show off what New York City can do." Lake Placid's Deputy Mayor Jackie Kelly will represent Lake Placid.

The eight-member committee will include representatives from Governor Hochul, Senator Schumer, Senator Kirsten Gillibrand, and State Assemblymember Bobby Carroll. A legal subcommittee will be co-chaired by Anthony Crowell, Dean and President of New York Law School, and Robert Landau, executive vice president for business operations for NBCUniversal.

The International Olympic Committee has not yet opened the bidding process for the 2042 Games. The 2030 Games will be in the French Alps, and Salt Lake City is scheduled to host the 2034 Winter Olympics. Switzerland is the preferred bidder for 2038. A climate change study suggests Lake Placid could have reliable weather for hosting the Games by 2050. Lake Placid underwent $750 million in renovations for international competitions. New York City facilities like Madison Square Garden, Barclays Center, and UBS Arena are available to host events. Lake Placid and New York City are approximately 4.5 hours apart by car.