OLEAN — A new owner and a new name are giving 101-107 N. Union St. a new lease on life.

City Urban Renewal Agency officials hosted a ceremonial key exchange on Thursday for the buildings, now dubbed First National by new owners Savarino Companies of Buffalo.

“Olean has lived for over 25 years with an abandoned building in the center of our city,” said Mayor Bill Aiello. “And, today, as we pass these keys to Savarino Companies we look to the future and imagine a corner that is once again full of energy and activity.”

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