WILMOT — It is possible a portion of a proposed Trevor-Wilmot School District building project could be funded by a zero percent interest loan made possible through the federal stimulus package.

The U.S. Treasury has released $11 billion nationwide to help fund specific school construction projects and will do so again in 2010. Wisconsin will get $98.6 million for school districts other than the Milwaukee Public School System, which will get its own $70 million pot.

Lisa Voisin, school financial specialist with Robert W. Baird and Co., told the Trevor-Wilmot School Board Tuesday that it could tap into that money, as long as the project advances one or more of the following goals:

— Enhance science, technology, engineering and math learning.

— Provide for early childhood education.

— Create a “green and healthy” school environment.

— Create “safe and healthful schools.”

Eligible schools receive a zero percent loan. The lender receives a tax credit to offset federal taxes in lieu of charging interest on the loan.

The catch, Voisin said, is that priority consideration is given to school districts that have passed a referendum or a resolution to issue non-referendum debt. Trevor-Wilmot has a solid plan for its future building needs, supported by the public through a survey. But, it does not have an approved referendum.

“You must have the ability to start construction quickly,” Voisin said. “My recommendation is not to apply for a portion of the $98 million this year. Get a referendum passed and then apply.”

Administrator George Steffen said the identified building program does enhance early childhood learning and would create a more efficient environment. Steffen said he has been in contact with the state Department of Public Instruction representative in charge of granting eligibility.

“We would be in the running because we meet at least two of the four goals,” Steffen said. “She encouraged me to get the shovel ready.”

Board members agreed this may be an opportune time to proceed with a referendum, though no specific date was discussed. The plans had been put on the back burner given the economy.

A seven-member, citizen-based facilities committee recommended last spring that the district add on to Trevor School in order to house all students in one building and to lease or sell Wilmot Primary Center. Several other options were considered.

The committee recommends the existing space at Trevor be dedicated to the upper grades and a new building or addition be dedicated to lower grades as younger students need larger classrooms to allow for center activities.

Currently, Wilmot Primary Center, 10720 Fox River Road, houses 4-year-old kindergarten through second grade. Trevor School, 26325 Wilmot Road, houses grades 3-8. The Wilmot site is 10 acres while the Trevor site is 24 acres with an adjacent four acres promised to the district.