Thirteen not-for-profit organisations are already based at the community centre on Perry St in Masterton - the trust wants the new service to be located in a "central" building in Masterton, with an outreach office in Carterton.
The annual operations cost of a volunteer centre would be about $24,000 with an initial set-up cost of about $10,000.
The trust proposed a contribution of $5000 from CDC and said it had made similar approaches to the two other councils and community funding agencies.
"These funds will ensure this venture can be achievable and viable for the benefit to individuals, groups/agencies and our wider community."