The group has been allocated $20,000 under WDC's Long-Term Plan to carry out improvements to the street.
Ms Willms Deane said they were still deciding how to spend the money, with possibilities including hanging baskets, street furniture, or a contribution to a larger project like an improved footpath surface.
A Tuesday night meeting attended by business owners, councillors and WDC staff saw a presentation from Heritage NZ detailing how the street had formed from a volcanic lahar before becoming a Maori pa site, the site of Whangarei's first church and the city's main financial thoroughfare.
The group was considering heritage-trail style signage.
"Let's take those stories and implant them," Ms Willms Deane said. "They're fascinating stories the local people would love, and it would become a tourist attraction."
WDC senior strategic planner Tony Horton said separate to the $20,000 under the LTP, the council would be installing a new rubbish and recycling bin on Bank St.
The council will also be putting up new signs for the carpark to the rear of St Andrews Church.
Northland Chamber of Commerce chief executive Tony Collins said the next step would be to also form a CBD advisory group covering the interests of the whole area.
"So we don't have one part of the CBD fighting with another part, fighting for resources," he said.
"Council want to work with local businesses - this is reflecting that it's not all up to the council. The landlords and business owners are going to have to do their part as well."