U.S. Coast Guard tall ship Eagle sails in the Atlantic Ocean off the coast of the Azores on July 2. Officials say the barque is going to play an important role at a museum honoring the sea service to be built in Connecticut. (Mass Communication Specialist 2nd Class Ruben Reed/Navy)

NEW LONDON, Conn. — More than $56 million has been raised to build a Coast Guard museum in Connecticut.

The Day newspaper reports that the National Coast Guard Museum Association has secured $15 million in federal funds, $21 million in private donations and $20 million through state borrowing for the downtown New London waterfront project.

Wes Pulver, the museum association's president and a retired Coast Guard captain, said the current fundraising tally is a "significant" accomplishment.

The newspapers says the museum to tell the story of the Coast Guard is projected to cost at least $100 million.

Construction was supposed to start early this year, but has been pushed back towards the end of 2020, The Day reported.

The 80,000-square-foot, five-story, partially glass building is expected to take four years to build.

The Coast Guard has tapped Elizabeth Varner, a former curator for the Department of the Interior, as the museum's director.

The Associated Press