Arthur Circle School was closed in 2020. Since that time, there has been considerable discussion as to what action the school board would take on this facility.
Here is the current status of this facility:
1. This 12-plus-acre tract was appraised and valued at $1,088,000.
2. The board approved a listing of the property at its appraised value on Nov. 15, 2022.
3. On Nov. 18, a purchase offer was tendered by BFT Development, LLC for the sum of $825,000.
4. This initial offer was countered in the amount of $900,000, and the BFT countered with an offer of $862,000. This amount is 79% of the appraised value.
5. The school board staff recommended approval of the counteroffer, and the school board passed a resolution authorizing the sale at that amount at a Dec. 20 meeting.
6. The Louisiana Secretary of State lists the following information on BFT Development, LLC: Managers — Rand H. Falbaum, B. Wayne Brown and Edward S. Taylor. Members — Stoneflower Properties, LLC (owned by Falbaum), Bossier-Daniel Family, LLC (managed by Wayne Brown) and 936, LLC (owned by Taylor).
7. The contract allows 90 days for the buyer to exercise due diligence by inspection of the property and approval of the purchase.
8. The property is to be sold in "as is" and "where is" condition without reduction of price.
9. The purchaser is bound not to "cut down tree that has an associated historic marker. Purchaser will allow public access to the walking trail and playground."
School board member Christine Tharpe stated on social media that "BFT Development is purchasing the school for Louisiana Key Academy (LKA). LKA is a charter school which serves dyslexic students."
It should be noted that the contract executed for the sale to BRF has no language on the intended use of the facility by BRF. Thus, despite the posting by Tharpe, there are no restrictions on the development of the property.