DENNIS, Miss. (WTVA) -- Remember all that talk about a $300 million resort to be built at Bay Springs lake?
That development has yet to materialize.
Four years after the announcement, spades have yet to hit dirt in Tishomingo County.
Scott Eubanks owns a grocery store in Dennis. His close proximity to Bay Springs Lake helps him out.
He is among those who hope to one day see the opening of a development there.
"There was quite a bit of excitement-kind of like when we had the Yellow Creek come in and the rug was pulled out from under that so, people were a little skeptical to begin with and still are," Eubanks said.
They were skeptical that anyone would come in with a development that would include a luxury hotel, golf course, hundreds of luxury cabins and even a place to land sea planes.
Since the development was first announced in 2008, resort status was granted by the Governor's office. It would allow for alcohol on the premises even though Tishomingo County is dry.
In March, 2010 company officials said they were still trying to secure financing-all this during a time when the national economy was in a downturn.
Watching all this closely is Lanny Virden-a man who makes his living on outdoor activities.
He remains hopeful that a development of some sort will materialize.
"It meant a lot to them and there is still hope out there with the public that something will come along; something will break loose and the resort and everything will come in. I know the economy in northeast Mississippi could really use it," Virden said.
Also concerned is Belmont business owner Jim Byram.
"It would be a great disappointment for me and I think a majority of the people in and around Belmont," Byram said.
Tishomingo County Development Foundation officials are tight-lipped about the status of the project.
They have declined to comment on this story.
The question remains.
Where does this project stand?
One source close to this situation tells WTVA the current economic conditions will not support this project at this time. They say funding has dried up.
We reached out to developer Doug Martel.
He tells WTVA he is considering a news release on the subject to be issued next week.