Tring Town Council has pledged to safeguard the British Red Cross and the use of the hall it was forced to give up due to money problems.
Suggestions were also made to improve the facilities at the hall on Pond Close at a meeting of the buildings and assets committee on Monday evening.
The Red Cross still wants to use the venue for its activities and will now hire it as and when it needs to.
The charity will also be renting back some space from the town council to use for storage.
Councillor Nick Hollinghurst, who sits on the committee, said: “It is really good news. We will think about how best to develop or improve the hall, but the first thing is to safeguard the groups who currently use it.
“We want the Red Cross to stay and continue to work in partnership with us.
“The hall is an asset for the town which the whole community contributes towards.”