Mrs Broughton said the Carterton market would include a mix of food and entertainment such as performances from Wairarapa musicians as well as arts and crafts and fundraising opportunities.
The group has received "an overwhelmingly positive response" on the idea from nearby businesses and residents including John and Sue Kennedy from the Buckhorn Restaurant, the RSA, and Rex Kenny, president of the Carterton Memorial Club.
They have already approached producers who have expressed interest in being involved.
Wairarapa Times-Age Facebook posters were supportive.
"Bring it! Carterton [Memorial Square] would be a great spot for a farmer's market for locals and others driving through. Heart of the Wairarapa and all that," Johnny Max said.
"A real Farmers Market like you see on telly or a gourmet farmers market like at Solway? I would definitely make the trip down for fruit and vege at an affordable price for 'real' people," Vikki Little said.
For the purposes of liquor licensing the project group has requested the market be deemed as one event held over a period of 52 Sunday mornings.
If they do this they can include wine, beer and cider vendors who would pay about $60 a year to secure their appropriate licences.
"We believe this to be a realistic figure to pay for the boutique cideries, vineyards and craft brewers we intend to approach and sincerely hope council choose to interpret the law favourably in this manner to help ensure the market will be as diverse and interesting as possible, truly representing the region," the report said.
Councillor Elaine Brazendale suggested traffic in and around Memorial Square might be a problem when the market is on.
The group said the market would be spread from 9am-1pm so that not everyone would be arriving all at once. It also said the roundabout at the northern end of High St slows traffic sufficiently so people can see "plenty of visible parking" around the square.
The group's report said the market was in line with what Carterton is trying to do with "place maker" David Enhwicht in livening up the town. "From an economic and tourism point of view we think it will be huge."