Rangitīkei mayor Andy Watson said the event was too significant to the Marton economy to simply let it fold.
"This event brings in tens of thousands [of dollars] for our district. It's significant," Watson said.
But Watson said he hoped the council's leadership of the event would be short-lived, with a new organisation to replace Project Marton currently in the pipeline.
"If the new organisation can get themselves embedded in time, they may well be part of that. But that's a discussion on the table for the future.
"The message is, we're not setting out to do a takeover here, these events are delivered by the community with council support. It needs to be a partnership."
Rangitīkei mayor Andy Watson says the council's involvement is only short-term while a new organisation to replace Project Marton is established. Photo / File
Watson said the new group currently in the works was looking to be a strong replacement for Project Marton.
"It looks incredibly promising. We have a list of new people who want to be involved, and they have a history of providing events in our district.
"There are some people who have been associated with Project Marton still wanting to be part of it too."
Typically held shortly before Christmas, the event attracts locals and those travelling from outside of the region to put up stalls, with almost all of Marton Park and Follett St taken up by stallholders.
Applications to hold a stall at this year's event on November 27 can be made by visiting www.martonnz.com.