The Oxford School's development company will not get the $325,000 in town CPC money requested for the project, at least not all this year.

Last month, the Stratford group's request for Community Preservation Commission funds took town officials by surprise, however the company is required from the state to ask because of historic and affordable housing tax credits for the project.

At Monday's meeting, Stratford Group Executive Vice President Rich Hayden met with the Board of Selectmen to discuss the funding request.

Director of Planning and Economic, Bill Roth told Hayden the town simply doesn't have the amount available this year, meaning the company would have to request smaller amounts each year.

Hayden informed the board his company would not request more than $325,000 total, even with the new yearly plan.

As for the request amount matching the purchase price for the Oxford school property, Hayden called it a "total coincidence". He said the request number was calculated from total development costs along with a few other factors.

Any amount of town CPC funding must first be approved by the town's Community Preservation Commission, and then approved at Town Meeting.