Trace the inner diameter of the template onto your CP.
Drill a hole inside it big enough to get your jigsaw in
Jigsaw the material on the inside of the traced line leaving about 3mm (1/8") or so.
Screw the template to the CP and then use a flush trim bit in your router and let the bearing follow the template.
One perfect 3.25" circle, job done

I'll need your full address (PM me) as I'm in the UK but int. shipping should only be about $4 or so.