And those who have campaigned hard over the past months to get this outcome have also said they are glad the council have rectified their mistake.
People in Duns and throughout Berwickshire were stunned when it was announced that the council, as a result of the Transforming Children's Services review, had taken the decision not to renew their lease on the building which has been in their hands for 20 years.
However, after hundreds of people turned out for a public meeting in April at the hall, which is owned by the Lowland Reserve Forces and Cadets Association, the council were left in no doubt that there was unanimous opposition to the move.
Following a promise by Councillor Renton at May's meeting of Berwickshire Area Committee that she would put a motion to full council to get the decision reversed, there were plenty of crossed fingers last Thursday morning when councillors met in St Boswells.
And campaigners got the result they wanted. An amendment to the motion was tabled by Councillor Renton's mid-Berwickshire colleague Councillor Donald Moffat for the council to maintain the lease for a rolling period of three years but this didn't gain as many votes as Councillor Renton's motion, which got the backing of 21 councillors, and she is hoping that the lease can be extended for at least five years.
Speaking earlier this week, she said: "Obviously I'm absolutely delighted with the outcome. The lease had recently been extended to 2010 but the council will now start negotiations with the MOD to get a plan in place to extended it further. We are hoping to get a better deal in terms of course and aiming for a five year deal could be the best way of getting this.
"I'm pleased with the number of councillors who supported my motion, it was an overwhelming majority."
One of the deciding factors behind the council's decision not to renew the old lease in December last year was the imminent opening of the new Berwickshire High School, but Councillor Renton now admits the council should have realised that the facilities it boasts wouldn't have been suitable for everyone.
"I was one of the first to admit that the council made a mistake by not consulting with the hall's user groups prior to making a decision on its future.
"Unfortunately due to council legislation this couldn't be revisited until six months had passed but we rectified the mistake at the earliest opportunity.
"I hope the people of Duns and district are as happy as me with the outcome and I'll be happy to meet with any of the user groups to discuss it further.
"After making the mistake on not engaging with them last year I will continue communication with all the user groups and keep everyone in the loop."
Councillor Renton did, however, state that in order for the hall to prosper in years to come, changes would need to be made.
"Now the council have agreed to maintain the lease we can move forward and look at how to get the best out of the hall. We need to market it better and find ways of lessening costs and that's something we can all work together on."
The man who spearheaded the local campaign to get Scottish Borders Council to 'Renew the Lease and Keep the Peace' was chairman of Duns Ex-Reivers Association, Stuart Renton, and he said he was "over the moon" that the council had finally done what the people wanted.
He said: "Unfortunately I was unable to get to the meeting at St Boswells as I was up at the Royal Highland Show but when I found out I was over the moon. The fact that a petition carrying over 2,000 signatures was presented on the day showed just how much the people of Duns care about the Volunteer Hall.
"I think the councillors were completely gobsmacked at the amount of people who turned up for the public meeting in the hall in April and the things they had to say.
"And it was the same at the Area Committee meeting in May but after Councillor Renton gave her promise then I was hopeful that something could be salvaged.
"I think consultation is the key from now on; I don't think the hard work is finished by any means. It's been a long slog so far but we just got on with it and we'll do the same now.
"At least we've got some security now and time to get our heads down and discuss how to improve the building. I think looking at grants will be the best way forward.
"Decisions like that one taken in December are very seldom overturned so for us to achieve what we have is fantastic.
"Councillors should have made the right decision in the first place. We all make mistakes in our everyday lives and we have to rectify them which is what they've done now.
"I think they were blinded by the new school but we had such a strong campaign and hats off to everyone who's supported the cause."
The Volunteer Hall will be well used during the coming week for Duns Summer Festival and president of the organising committee, Ann Affleck, said she was pleased councillors finally realised what a "vital facility" it was not just for the town, but the whole of Berwickshire.
"The hall plays a massive role in Duns Summer Festival. We have the crowning of the Wynsome Mayde there if the weather is bad as well as the reception after the Kirking, the Family Ceilidh and Reiver's Ball to name just a few, without the hall we'd have to hire a marquee.
"I may not be a Dinger born and bred but I've been in Duns now for over 30 years and I know how important the hall is to everyone here.
"Any event that requires a large space takes place in the hall. I understand that there's a business problem and financing the hall is a difficult balancing act but the council shouldn't walk away from their responsibilties to the people they serve and we need to look after what is precious to the community."