The original marble Forever poppy in Marlowe Way collapsed under its own 4.5-tonne weight in 2017.
Bassett man Tom Patterson launched a campaign to replace it with a bronze version, but must raise £290,000.
Meanwhile, Martin Lansdowne and the designer of the original sculpture, Mark Humphrey, want to recreate the original design while using different materials – and say it will be given to the town for free.
The pair put their proposal to Royal Wootton Bassett Town Council.
The sculpture is expected to stand around 8ft tall, 9.5ft wide, and 8ft deep.
The pair say they can built and install it within 18 months once the town council gives them the go-ahead.