The 1960 Winter Olympics, officially known as the VIII Olympic Winter Games, were a winter multi-sport event held between 18 and 28 February 1960 in Squaw Valley, California. In 1955 at the 50th IOC meeting, the organizing committee made the surprise choice to award Squaw Valley as hosts for the 1960 Winter Games. Squaw Valley was mostly undeveloped, so from 1956 to 1960 all of the venues and infrastructure had to be built or improved at a cost of $80,000,000. The Games featured the first athlete's village and was designed to be intimate, allowing spectators and athletes the ability to walk to nearly all the venues. The opening and closing ceremonies were produced by Walt Disney, and televised by CBS. The 1960 Games were the first to have television broadcast rights sold to the highest bid