PORTSMOUTH — The Aquidneck Island Christian Academy asked to extend its lease another year at the former Coggeshall School on East Main Road. Town officials are debating whether to sell the school (and other town properties) to make up for low funds in the rainy-day account. Councilors don't have to take action to renew the lease, which has an option to extend it until next year. The town administrator said renewing it will give him time to evaluate if it should be sold and what residents think of the sale. "This is not a building that is not going to be missed," he said.