Task force co-convenor, Shelley Boyce said SHAPE was now a "going concern" to enable the task force to proceed with the next stage of planning for the precinct.

"In due course, we anticipate that SHAPE Ltd will attract Deductable Gift Recipient (DGR) status through its inclusion on the register of cultural organisations, allowing us to receive tax deductable gifts from the private and corporate sectors," Mrs Boyce said.

"In the interim, SHAPE Ltd funds are held in trust by the not for profit Southern Highlands Foundation, which already has DGR status."

Mrs Boyce, a Southern Highlands resident for 35 years, is current chair of the Southern Highlands Foundation and is recognised for her extensive community involvement in philanthropy.

Endorsing the 15-member SHAPE task force, Mrs Boyce said its members were "a group of local residents absolutely committed to seeing this once in a lifetime opportunity become a reality for the Southern Highlands."

"Given the experience and skills we bring to it, I have no doubt we will succeed," she said.

Task force co-convenor, businessman Peter Tyree and a long-time Highlands resident, agreed with Mrs Boyce.

"We have those with proven business acumen, art and theatre specialists, highly relevant architectural and design professionals and marketing specialists. Through this network, we are able to bring together the expert teams necessary to take the next steps," Mr Tyree said.

"Based on experience elsewhere a project of this nature will take about five to six years from commencement of the pre-design process to completion.

"Over this time, members and structure of the task force may change as needs and tasks evolve, but for the present, I believe we have the best team to take the cultural precinct project to the next level."

Mr Tyree said the task force was on the right track to move forward.

"We are confident SHAPE is on the right track in seeking support from private investors and benefactors who see the advantages of these arts, culture and associated facilities being at one location, with Australia's critical population mass on our doorstep," Mr Tyree said.

"We now have the appropriate company structure to facilitate the involvement of supporters at all levels."

The SHAPE task force members are Shelley Boyce (co-convenor), Julian Beaumont OAM, Susan Brindle, Holly Campbell, Desmond Freeman, Gail Heathwood, Kate Ingham, Richard Lane, Clare Macarthur Stanham, Graham Ormsby, John Ross, Alexandra Springett, Maisy Stapleton, Peter Tyree (co-convenor) and Hon. Michael Yabsley.