LYNN – The Lynn Public Schools will be applying to receive a portion of the $58.6 million in federal stimulus money Massachusetts has received to help the state’s lowest performing schools.Superintendent Catherine Latham said the money comes in the form of competitive grants and the application process requires a redesign plan.”The redesign plan will be the application for the federal money,” Latham said. “What we are trying to do right now is merge federal requirements for under-performing schools with the state requirements. Each district must have stakeholder meetings for each of the level four schools. We have had our stake holder meetings and the groups have provided me with recommendations for a turnaround plan.”Latham has 30 days to write turnaround plans for 14 schools and to submit them to the Department of Secondary and Elementary Education, as well as the School Committee, for approval. Then state Education Commissioner Mitchell Chester must approve the plan.”He can recommend changes,” Latham said. “We can make changes to the plan and then we have to write another plan, the redesign plan, which will be the application for federal money.”Latham said the money can go to any additional staff, material, supplies or services which may be required to support the redesign plan.To apply for the money, a school district must be identified as one of the state’s persistently lowest achieving. Individual schools that have failed to show yearly progress for two years are also eligible to apply.Earlier this year, the state identified Lynn as one of 35 underperforming schools and gave them an ultimatum: Start making dramatic improvements or face state takeover.There are two submission dates for the application. Boston is the only district working on expedited plans. Latham said she will submit Lynn’s application on the date of the second deadline late in the fall.