PEABODY – Superintendent Milt Burnett had good news to share at Tuesday night’s School Committee meeting – Peabody Veterans Memorial High School will likely be the recipient of a $640,000 grant.The grant money, funded by the Texas-based oil company Exxon, is being made available through the Massachusetts Math and Science Initiative in partnership with Mass Insight Education and Research Institute. The grant money will be used specifically to increase enrollment in the school’s Advanced Placement English, math and science courses, as well as increase student performance and interest in related professional careers.”This is a great feather in the hat for the high school,” said an enthusiastic Burnett.There were originally 50 districts vying for the grant money, but that number was trimmed down to about 25 schools after. That number has since decreased to about 15 schools, including Peabody, said Burnett, which will each receive the assistance.The process first began when two high school guidance counselors came upon the grant through research and submitted an RFP. Six experts later evaluated the school for consideration last month.High school principal Ed Sapienza has been anxiously awaiting the good news ever since.”If we can capture that grant, it’ll mean a lot to our program,” he told School Committee members in January, keeping his fingers crossed that it would come through.Looks as though all of his wishful thinking has paid off.Burnett and Sapienza first received word of the good news Tuesday morning during a conference call with representatives of the grant.”It was a wonderful teleconference,” said Burnett.In order to follow through with the grant’s intentions, teachers must participate in professional development provided by the grant. According to Mass Insight’s Web site, the program will include extensive training for AP and Pre-AP teachers, establish AP lead teachers, demand additional student participation and provide performance-based financial incentives for students and teachers.”This is monumentally important award money,” said School committee member Dave McGeney.Taking AP courses provides many benefits to the student, said Burnett. The courses not only increase the student’s overall GPA, which will come in handy when applying to competitive colleges and universities, but it also provides college credit if the students earns a passing score on the AP test.Burnett said the grant will not only help improve existing AP courses, but also allow for the possible addition of new courses that would appeal to more students.