New 480v service

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rawlands

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andover, mn
I am installing a 120/240v 1phase 200a panel in a new building. Since the power company xformer is 480v and 1100' away, the plans call for a 480v service to be installed, then a 480-120/240 xformer to be installed at the site. I realize i must pull a neutral to the 480v service disconnect, but since i will not even utilize it, (other than fault current) how much can i undersize the neutral?
 
Is it possible to extend the primary cable overhead by POCO to the new building and then step it down to 240/120 single phase? May save on voltage drop, copper costs, and the POCO may pick up some of the cost on the extention.
 
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