A two-year search for a U.S. Olympic training-center site in San Diego will end with the announcement today by a sports foundation that Lower Otay Reservoir east of Chula Vista has been selected. San Diego Councilwoman Gloria McColl, president of the San Diego National Sports Training Center Foundation, has called a 1 p.m. news conference to announce the site chosen for the proposed year-round Olympic center. The site, on land around a San Diego city reservoir, meets the U.S. Olympic Committee’s standards in size if not in location. USOC members had asked for a site close to educational institutions, medical and commercial centers, and suitable housing for an expected 350 top athletes. Larry McCollum, director of the Olympic training center program, said the USOC executive committee will meet Nov. 12 to make a final decision on the San Diego group’s proposal.