The Seti@Home package published by Daniel Carrion no longer appears to be compatible with BOINC on the PI. From my searching the internet, I found some information stating that some people may have had some success when compiling both BOINC and the Seti@Home binaries from source, but the results were not consistent.
I still wanted to do some BOINC’ing on my Pi and looked at other projects. I first looked at Einstein@Home, but the project required more RAM than was available. Other Pi users reported the same problem, and were directed to use Asteroids@Home as the RAM requirement was much smaller. Not only was using Asteroids@Home less RAM intensive, the project offers a project that can be directly attached to the Pi; no additional downloads or tweaking necessary.
After a few hours troubleshooting a few issues, I was able to get Asteroids@Home running on my Pi. Here is the link to my instructions for anyone also interested.