PENSACOLA, Fla. – An incentive deal aimed at luring Pen Air FCU to the downtown Thiesen Building will forgive a $79,854 balance on a loan to the Downtown Improvement Board to help encourage the credit union’s move.
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Forgiving the loan was a city incentive to entice the credit union that wants parking spaces for as many as 110 employees who will occupy the five-story building at Palafox Place and Romanas Street.
The $1.1-billion credit union agreed to lease-purchase the Thiesen Building and move more than 100 employees from its various branches to that 37,000-square-foot location. Until recently, the building, built in 1901, was the headquarters of Hancock Bank. In 1979, it was added to the U.S. National Register of Historic Places.
