The renovation of Cambridge's two high schools will cost nearly as much as the construction of two totally new structures, according to a report released yesterday by the Cambridge School Committee.

Eduardo Catalano, a professor at MIT's graduate school of design and the author of the report, presented four alternative methods of modernizing the city's secondary schools to a sparsely-attended joint meeting of the School Committee and City Council.

The four alternatives offer various proportions of rehabilitation and new construction, from the demolition of both Rindge Tech and Cambridge High and Latin to the retention and renovation of both structures. Catalano said that necessary modernization of the present buildings includes replacement of boilers and smokestacks, the installment of new electrical and ventilation systems, and the reconstruction of roofs, ceilings, and floors. Both schools are presently in violation of the state school building code and anti-pollution laws, he said.

Catalano said that two new schools would allow greater flexibility, more open space, and probably less disruption of classes during the modernization period at only 15 per cent greater cost than renovation.

Cambridge is eligible for state assistance totalling 65 per cent of construction costs and a Federal subsidy of 10 per cent of costs due to the city's high rate of unemployment. Cost estimates in Catalano's report ranged from $20.5 million for renovation to $23.7 million for new construction.