Wangaratta Festival of Jazz and Blues will go ahead in November after a group of residents stepped up.
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Wangaratta businessman Andrew Nunn was voted chairman while new board members were Daniel Peacock, Tania Maxwell, Sarah Thompson, Kieran Crichton, Leslie Bolitho and Jane Still.
Mr Nunn said it was an important first step to saving the long-running festival, which was axed after November's event amid financial concerns and a shrinking volunteer base.
"It's super exciting!" he said.
"There's a feeling of relief among everybody; we can exhale now.
"The next step will be to hold our first official meeting to develop a strategic plan, redo the constitution and put fundraising on the agenda.
"We'll be consolidating all of the information we've picked up from all of the community meetings."
The new board members were part of a steering committee that came out of four public interest meetings held at Wangaratta since November 2023.
Mr Nunn said Wangaratta Festival of Jazz and Blues would run on the Melbourne Cup weekend, November 2 to 3.
He said they would start considering musical acts for the festival soon.
"Some people have already booked their accommodation," Mr Nunn said.
"The key call for action now is to get people to sign up to our website.
"People will be able to donate through that site and there will be a call-out for volunteers in time."
Mr Nunn said more than 40 people attended the annual meeting at Quality Hotel Wangaratta Gateway.
"It was fantastic to see great community support for the festival," he said.
"Thanks to everyone who has been part of the festival over the last 35 years, especially the outgoing board: Dave Fuller, Michael Iacovino, Geoff Davidson and Noah Barling."
To keep up to date follow: wangarattajazz.com