A spokeswoman for the landlord of Barat Academy said Friday that the company would entertain a purchase offer from the independent Catholic high school if it has adequate financing.

Mary Sawyer, spokeswoman for CP-SPE, LLC, the company that now owns the school property in Dardenne Prairie, said previous offers from Barat were made at a "discounted price" and lacked enough financing.

Eviction proceedings against the school began last week — the latest chapter in a legal dispute over the 4-year-old school's failure to pay its rent and other bills. Sawyer said she was not aware of any ongoing discussions between the school and the company.

But Debby Watson, president of Barat Academy, said the school has sent another offer to the company. The school tried for months to make offers and negotiate, only to have offers quickly rejected and often returned marked "unacceptable" with little explanation, she said.

Watson also questioned the value for the school property set by CP-SPE, which has put the property up for sale. The asking price for the 38.4-acre school complex is $17 million, according to a listing by CB Richard Ellis, a commercial real estate company.

The 'special purpose property" at 1 Academy Place includes a 69,692-square-foot 'state of the art" two-story building with 30 classrooms and 10 science labs, built in 2008, the listing states. The school also has an 11,947-square-foot detached gymnasium, along with a main athletic field with lights, a baseball and softball field and other practice fields.

In a news release last week, the school stated that in the current economy "no property is worth what it has been worth." They said the school's attorney hasn't been shown how appraisals of the property justify the price.

The lack of a counter offer has also made it difficult for the school to seek new financing from other banks, Watson said.

School officials say they plan to begin athletic practices Aug. 8 and classes Aug. 31 at the present school or somewhere else. The academy is looking at moving to another location.

"The school is moving on, there is no question that Barat Academy is going to continue," said Paul McKee Jr., chairman of the school's board of trustees.

McKee said Wednesday the school was still trying to negotiate, but he would not comment on whether it would stay or move. "I can't answer that yet," he said.

Locks were changed on the main school building Monday as part of eviction proceedings. School officials said attorneys were working to allow some access to the building.

Orange traffic cones were stretched across school parking lots last week, and St. Charles County Sheriff's Department cars were parked at various times near the front of the main building.

Sawyer said the eviction notice came after a 13-month lease between Barat Academy and the company expired May 31 and after Watson signed a consent agreement.

In June, Watson signed the consent judgement in St. Charles County Circuit Court admitting that the academy owed $216,000 to CP-SPE in past rent payments, interest and other charges. She also promised to surrender possession of the property by June 28. Circuit Judge Jon Cunningham signed the eviction notice on June 30.

"Our position all along is that none of this is a surprise," Sawyer said.

On Friday, Sawyer said CP-SPE had not yet been paid the $216,000.

"After working for more than a year to accommodate Barat Academy, CP-SPE regrets that the school is unable to fulfill its financial and contractual obligations to CP-SPE," the company said in a statement.

CP-SPE filed suit in January for nonpayment of $75,000 in rent. According to court documents, the school did not pay its $25,000 monthly rent in November, December and January.

Watson said last week that the school has been trying to talk to the Federal Deposit Insurance Corp. and the company about leasing or buying the property.

The FDIC became involved after Premier Bank of St. Peters failed last October. About two-thirds of the school debt was owed to Premier, and a third belongs to Enterprise Bank.

FDIC spokesman Greg Hernandez said Tuesday the agency doesn't control or own CP-SPE, a private company. FDIC would have had a controlling interest if Premier had 80 percent, instead of 68 percent, of the school's debt, he said.

The property was conveyed to CP-SPE when the bank went into receivership, but the FDIC has no role in negotiations with the school, Hernandez said.

"We have never had nor have not been able or had any interest in any negotiations," he said.

McKee said he was told the same thing by FDIC officials. But McKee said the FDIC should have been involved.

"I've got a few names you can call them (FDIC)," said McKee, who was attending a prayer vigil near the school Wednesday. "They are lying through their teeth."

Sawyer traced the situation back to its original financing in 2007. Barat Academy was funded with private funding and special-purpose bond financing issued through the Missouri Higher Education Loan Authority for $12.5 million and about $5 million in commercial loans.

Sawyer said the academy transferred the title to the property to CP-SPE as a special warranty deed in May 2010. CP-SPE was formed with the special warranty deed, but Sawyer would not comment further on the company's relationship with Premier Bank.

As part of that warranty deed, Watson entered into the 13-month lease. Sawyer said Barat agreed to find alternative space by Dec. 1, 2010, and Barat officials were required to notify faculty, employees, students and parents of this situation by Dec. 17, 2010.

Watson said Monday the school signed the lease with the idea that it would have first priority if the property went up for sale. After Premier Bank failed, Watson said it wasn't apparent to whom Barat should pay its monthly rent. Not paying the rent also was designed to draw the FDIC's attention, she said.

Sawyer said Premier Bank's failure "is not the issue." CP-SPE was created to hold the title to the property before Premier bank failed, she said.

Meanwhile, Watson has stressed the school has no plans to close and was looking at alternative locations within a six-mile radius if it has to move. The locations include properties closed by Vatterott College and vacant school buildings, she said.

School officials hope to decide what to do in the next two weeks. They are expected to meet with parents on July 25.

A goal would be to remain in St. Charles County, but Watson didn't discount the possibility of leaving. The school's student enrollment is expected to reach about 260 this fall.

Students and parents held a prayer vigil Wednesday evening on property adjacent to the school, and a rally in support of the school is scheduled for 2 p.m. July 21.