Committee recommends 12-month extension option, additional nonrefundable deposit for Northside sale

During the committee meeting staff reviewed the contract status for the Northside Elementary old-site property and recommended an extension and additional nonrefundable deposit to keep the agreement moving.

Listing agent/Staff (S10) told the committee that Brown Taylor Development LLC has a contract that expires Feb. 20, 2026, with $12,500 already held in escrow as a nonrefundable deposit. Citing experience with a prior developer (Verint), staff said a consistent extension formula would translate to an additional one-year extension and a $12,656.26 nonrefundable payment. "I would recommend that we extend their contract 1 more year and have them pay an additional $12,656.26 of nonrefundable deposit," S10 said, and recommended those funds go "hard" (available to the district).

Committee members debated strategy. Some members favored presenting a preemptive committee recommendation to the full board (which would speed the board meeting if the developer accepts terms); others suggested bringing the item to the board without a committee recommendation to preserve negotiation flexibility. Staff outlined three outcomes: the developer could close by contract term, withdraw and forfeit escrowed funds, or agree to an extension under negotiated terms.

The committee did not record a final numeric vote in the transcript for the Northside extension at committee (the recording shows discussion and a recommendation option being prepared for the board). Staff said they would bring a formal recommendation to the full board and that the committee’s preferred path was a 12-month extension with an additional $12,656.26 nonrefundable deposit and conversion of existing escrow into district funds if the extension is granted.

Next steps: staff will prepare the recommended extension terms and present a recommended action to the full Caddo Parish School Board for final consideration.