Posted: Mar 29, 2012 7:42 AM
Source: Associated Press
LUTCHER - The St. James Parish School Board decided to cut the sale price of the former Vacherie Primary School site by 20 percent after the appraised value failed to attract any bidders.
The board also gave the school administration authority to reduce the price further without another board vote if there are still no takers.
On Feb. 15, the school board advertised the site for $778,600, or the full appraised value, school officials said, but got no offers.
Board member Richard Reulet Jr. moved at a board meeting Tuesday to approve an administration proposal to cut the price of the site to 80 percent of the appraised value but added the grant of authority to cut the price to 50 percent or less in the future.