The town already has set aside $315,075 in its capital improvement budget to cover costs related to renovations, improvements and additions to the school. Thus the town would not borrow more than $17,109,925. The town also is anticipating reimbursement from the state at $6,959,925, meaning it would finance over 20 years a total of $9,950,000. Finance Director Bruce Stratford has said the town would not bond the project until it is completed in 2021 so it knows exactly how much to borrow. School and town officials have said the renovation project would not go forward without the state reimbursement. The nearly $7 million reimbursement was estimated and reported by Silver Petrucelli and Associates, the New London-based architectural firm hired to draft a preliminary design.