The city grant, arranged by Mayor Menino and City Councilor Mark Ciommo, brings supporters of the proposed conversion of the old Presentation School into a multi-use community center oh so close to actual construction. Presentation School Foundation President Tom O'Brien told a packed room at the Y tonight that the foundation is now only $275,000 away from being able to start renovation and construction.

There is just one problem, O'Brien said: Because of conditions on bonds and loans for the project and construction cycles, the foundation has to raise the money by the first week in June or the whole project collapses and the foundation has to start looking for somebody to buy the one-time parochial school.

The Archdiocese of Boston sold the building to the foundation after it shut the school suddenly six years ago. Foundation members have raised $1.1 million from the community, local businesses and non-profit foundations and worked with the state and Wainwright Bank on a $4.5-million financing deal.

O'Brien said that in addition to the new money from the city, St. Elizabeth's Hospital this week agreed to donate $50,000 toward the renovation project. The hospital will be one of the center's first tenants, operating a variety of child and family clinics. Also planned for the building: An early-education and pre-school program, adult-education and immigrant-outreach efforts and space set aside for use by local community groups.

O'Brien said that, assuming the foundation raises the remaining money, work would begin in June and the center would then open by year's end.

Supporters emphasized tonight the center would really only be one leg of a "community campus" that includes the YMCA and the Faneuil branch library - which BPL trustees have voted to shut.

"This is what we do here in Oak Square - we make miracles," organizer Maria Rodrigues said.