"We've got one representative from each business and we are in the first stages of putting together our new charter to replace the old one put together a few years ago."
Mr Coffey said there were two parts to the charter.
"What we are all about, how we will play nicely with each other, and then there's the nitty gritty like rubbish pick ups, deliveries and that sort of thing."
The group's secretary and Brew Craft Beer Pub co-owner Paul Croucher said it was sensible the whole street worked together.
"It's a really good bunch of like-minded people. I think everyone respects the others' need to run their own business and their own space but there is a great will to work together.
"We all want to be good corporate citizens and it's also a nice way for us to work together on mundane things like pest control," Mr Croucher said.
Mr Coffey said, when big events came to Rotorua, they could collaborate on things such as signage and advertising.
"Events like the Blues Festival, so we can work together to make sure no one is adversely affected.
"Hopefully we'll be able to host more events, and build some more character on the street as well.
"I have to admit there have been a few issues in the past so this is all about working together for everyone's benefit," he said.
