It’s possible — at least on paper — to renovate the 43-year-old Madison Central Library for millions less than it would cost to undertake either one of two plans to build a new one, a city library committee was told Wednesday.

The city’s library disposal committee asked architects to outline what a renovation could look like at the behest of City Council members, library officials and others who will make a final decision on whether to move forward with one of two plans, one by T. Wall Properties costing about $46.5 million and another by The Fiore Cos. that would remake the library’s entire block and would cost about $80 million.

The idea, according to Library Board Chairman Tripp Widder, was to give decision-makers an idea of what a more basic renovation plan could look like before opting for a new building.

The three renovation options presented Wednesday by Milwaukee-based architectural and engineering firm Hammel, Green and Abrahamson carried construction price tags between $10.5 million and $13.9 million, with the most expensive option including about 11,000 square feet of new space as part of a rooftop expansion.

 "There’s good bones in this library," said David Lang, a senior associate with the firm. "You actually have a pretty good building here."

 One of the benefits of renovating the building is that it could remain open during construction, he said, although it might be a hassle.

The committee was expected to consider what to do with the library again in late April, with a final recommendation to the library board possible in mid to late May. Widder said the committee could accept one of the two proposals for a new building or reject both. If the latter, the city could then decided to request proposals for a renovation of the library.

Also Wednesday, the committee heard that the Madison Public Library Foundation has determined it would be feasible to raise up to $10 million as part of a capital campaign to pay for a new or renovated central library.

That’s likely only possible once the economy improves, said Rick Chandler, vice president of the foundation’s board, and only over four to five years.

Getting one or more big donors also would be key, he said, but so far some initial overtures to people or groups that might fit that profile have not produced any commitments.

"Many major donors are not in a position where they’re making large grants," he said.

Chandler said fundraising is likely to be more successful if there is a plan in place for the library, but he declined to speculate on which of the options for a new library, or for a renovated library, would be better for that effort.