Mr Taylor was quoted in website The Spinoff saying a "highly secret'' Dunedin project was in the pipeline, which the story's writer said would be the city's equivalent of Auckland's Sky Tower or Sydney's Opera House.
The writer went on to say funding was "more or less'' in place for the project.
Mr Taylor said yesterday there was no secret project being funded by a source from "outside Dunedin''.
He believed the writer of the story might have been confused by his "exuberance'' in support of a vision to redevelop Dunedin's waterfront.
A model showing what a redevelopment of the city's waterfront could look like by Architecture Van Brandenburg, which had already been covered by the Otago Daily Times, was a 30-year vision which was not close to being funded.
"It's not even a project. It's a vision,'' he said.
He was open to Animation Research Ltd supporting the vision by using computer modelling to visualise it.
A spokesman for The Spinoff said it stood by the story, which had been updated to remove the line saying funding was "more or less'' in place for the project.
