DAVE Boddy admits that the project to relocate Worcester City to a new state-of-the-art stadium has "not moved as quickly" as anticipated.
Chairman Boddy and City's directors are still waiting on an offer from developer Miller Homes for their St George's Lane home.
The club hoped to organise an extraordinary general meeting last autumn asking club shareholders to approve the sale of the historic ground.
But the project is stalled until a planning profile is established between Miller Homes, the club and Worcester City Council's planning department.
Meetings are on-going between all parties to form the site's profile of the site and it is hoped an offer will be made prior to City's annual general meeting this spring.
Meanwhile, Boddy insists efforts have been made investigating future headquarters.
Last week, he said that City would welcome talks with Worcester Warriors with regard to ground-sharing Sixways, following the revelation that Warriors submitted an application to rugby's governing chiefs to host football matches.
But Boddy confirmed that Nunnery Way is the preferred site among several options.
Despite the lack of progress over the last 12 months, City insist the project is still alive.
"Originally, we had hoped that we would be in a position to call an EGM in late autumn of last year, to ask the shareholders to approve the deal and sale of the ground," said Boddy.
"However, things have not moved as quickly as anticipated. There have been on-going meetings between ourselves, the prospective developers and the council to establish the planning profile of St George's Lane.
"Without an agreed profile, we cannot establish a realistic net price for St George's Lane which is the key element of the whole relocation project."
Boddy added: "A lot of work is going on behind the scenes with regard to developing the Nunnery Way site and the other options we have. But until we know exactly what the sale price of St George's Lane is going to be, we cannot move forward.
"The board anticipates being able to review the progress by the end of March and expect to call an AGM towards the end of April, when the progress will be discussed with the shareholders."
A new 6,000-seater stadium, built to Football League standard, is Worcester's long-term goal.
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