The building committee for the Martha’s Vineyard Regional High School is giving itself more time to narrow down options for a new or renovated school.

The committee will submit its preferred design to the Massachusetts School Building Authority (MSBA) for review in late June, rather than early May, building committee chair Dion Alley told the high school committee Monday evening.

“This won’t delay any of the schedule that we have,” Mr. Alley said. “A lot of the work that we’re going to do in the next two months, we would have to do anyway... but it is going to allow us to be able to go ahead and refine some more information,” he said.

The 25-member building committee needs to determine which type of design it will bring to the MSBA: a simple code renovation of the existing school, a renovation with additional construction or an all-new school.

Even the least-costly option, a renovation bringing the 167,000-square-foot school up to 21st-century building codes without additional construction, would run at least $220 million, Mr. Alley said, citing estimates from the committee’s architectural firm.

The other two designs are for a 211,000-square-foot facility, its size based on the high school’s current educational plan. The renovation with addition is estimated at $299 million and the all-new school design at $350 million, Mr. Alley said.

Reimbursements from the MSBA, which uses a portion of state sales tax revenue for its highly competitive program, are not included in the architects’ estimates. Actual reimbursement rates, should the high school project move forward, will depend on the selected design.

The state reimbursement program is based on construction costs of no more than $568 per square foot, Mr. Alley said — less than half than the likely cost for building the high school, given the Island construction prices.

“The estimates that we received at our last meeting are around $1,250 per square foot,” he told the school committee.

The MSBA reimburses renovations at a higher rate than new construction, Mr. Alley said, but the code-only design may not be deemed eligible for the program because it’s not large enough to meet the regional high school’s current education plan — a likely deal-breaker for the building authority.

“Basically, if we have to meet the ed plan, then the renovation is off the table because it’s not enough space for... what we need in the school,” he said.

The renovation-only option would also limit the high school’s ability to offer science labs and career and technical education that meet state standards, which specify classroom sizes beyond what the current school can offer.

Mr. Alley asked the high school committee and administrators to consider trimming the education plan to save construction costs for an expanded school.

“Is there any [room for] movement in the ed plan?” he asked.

“Because it’s a math game. There’s a cost per square foot, and there’s the square feet. And somehow, we’re going to have to try to make the two meet,” Mr. Alley said.

“We’ve got to get creative,” he said.

The education plan, which formed part of the high school’s application for MSBA reimbursement, reflects what is presently happening at the school — not aspirations for a future facility, principal and building committee member Sara Dingledy said.

“The ed plan is a capture of what it is that we currently do,” Ms. Dingledy said.

The high school committee voted to schedule a focused workshop on the educational plan, while Mr. Alley said members of the building committee will consult with their communities on the design options.

The high school building committee meets every other Tuesday at 5:30 p.m. in the school library, with the next meeting on April 15.