The market will run for the first time at the Police Paddock Park behind the CFA on Saturday, February 5, between 9am and 1.30pm, after which it will run on the first Saturday of each month.
The group has already raised $10,000 but needs to raise $40,000 to get the silos decorated, plus ongoing costs to maintain them.
The silos are located near the intersection of Katamatite-Nathalia and Benalla-Tocumwal Rds.
Cheryl Hill, who is in charge of the fundraising efforts, said the group had hoped to have all the money raised by now, but the market should bring in enough funds within 12-18 months.
“We’re hoping to get them painted to bring tourism back into Katamatite ... build the community back up,” she said.
The inaugural market is set to have a variety of stalls including skincare, a coffee van, herbs, quilting, bric a brac, wooden crafts, books, children’s crafts and dog treats.
The Lions will also have a barbecue going and donation bins will be available to contribute.
“We’re hoping to have a reasonable amount of people come through ... we’re hoping to raise at least a couple of hundred each market,” Ms Hill said.
She said the group already had support from Moira Shire Council and GrainCorp and have also been applying for grants to assist with costs.
Ms Hill said the group has been trying to get the silos painted “for a few years now”.
“We’re hoping to get them painted to bring tourism back into Katamatite ... build the community back up,” she said.
“We’ve got about four different designs at the moment, but they have to go first to the community to decide.”
The designs are currently set to be finalised in February or March this year.