"Usage of the town hall has reduced over the last decade with less than a third of available days used in 2018-2019. There is a lot of work to do to bring it up to the standard needed so people and groups will hire it."
Once established, the trust will seek wider community input into the redevelopment and use of the hall.
Applications for founding trustees are now sought for six to eight trustees who are passionate about the town hall and have governance experience to bring to the trust.
The initial trustees would be appointed for up to three-year terms by a joint group of experienced directors, trustees and community representatives.
The role is voluntary and unpaid, but costs are expected to be reimbursed.
Waipā District Council is accepting applications until February 12.