The South Wairarapa District Council is looking for a suitable tenant, said council amenities manager Helen McNaught.
She said there had been indications of interest in the building, and suggestions on how to use it. "But so far no-one has come forward with a suitable proposal."
She said the council had spent very little money on the building in the last year. "There are some minor things which need to be doing, but we have been waiting for a tenant to work with."
Mr Minehan said he was keen to see the council maintain the building but let it to groups for community, cultural and heritage purposes.
"I'm pretty certain there would be a lot of support, there was huge community support to move the building in 1979."
The heritage building was built in 1891 as a Masonic Lodge in West St, then it was moved by the council in 1979 to the main street. Then it was converted into a library, but the library moved to the town centre.
"People were pretty upset that the library moved out, it had a huge impact."
The irony, he said, is that it was the refurbishment of the old town hall into the town centre that led to the building's decline.
He said attracting a business to lease it would be difficult as it was for a niche market.
"I doubt it's the best time for commercial rental, and if you look around Greytown there are quite a few rental spaces anyway."
The building came up for lease in June last year after the Wairarapa Wine Centre, which had occupied the building since October 2010, moved out to Johner Estate.
It has since been empty and has failed to attract interest from prospective renters.
He said the council favoured leasing it to provide revenue, even though there had previously been a lot of support for an arts centre.
Mr Minehan said if he was elected to the board, it would be a priority issue.
One idea he had for the building was for it to be used as a youth centre.
"I'm trying to scope ideas, nothing off the wall."
He also said there could be a small-scale skate park behind the building, even though it had been proposed before and knocked down by some of the community.
"There was talk of a skate park before, it was quite controversial as there were concerns about the noise.
"The problem is you need somewhere central, with good lighting."
At the moment skaters have nowhere to go, they do it in the streets, he said.
Last year Jan Eagle, daughter of Stella Bull, who gifted the building and park to the community, told the Times-Age she was not surprised there had been no interest.
She said the $25,000 a year rental was prohibitive. She would like to see the building go back to being a community project, such as an artists' centre. "Something with arts and culture; Greytown needs it. We've got enough foot traffic to jolly well support it."
