Taylor will effectively become a free agent at the end of next month, when his current deal expires, but there has been ongoing discussions aimed at keeping him at the Riverside Stadium.
Such talks are said to have been productive and the hope is that there will be an announcement soon, although the longer it takes for the 24- year-old to pen a deal the danger is another club will follow up tentative interest.
Taylor has been asked to take a significant pay cut on the terms of the last contract he signed during Middlesbrough's Premier League days.
But Mowbray has been satisfied with the indications the versatile left-footer has given off in the last few weeks and is just waiting for the deal to be signed.
The Boro boss said: I would like to think that it will get concluded very soon. He is in an open market place really and I have not hidden it too much. I would have had him sign in January if I could.
He is not an in your face wow' player, but he is a very good professional, has very good qualities as a human being, and has great ball retention. He is the type of player I like in my team.
People at this club are aware of that.
With a frustrating season over at the Riverside, Mowbray is looking to a busy summer to build a squad worthy of challenging at the top end of the Championship next season.
He knows he must move players on, reducing the wage bill by more than half in the process, before he can think about bringing any new players in on first team wages.
But, as predicted in The Northern Echo this week, Mowbray has completed the signing of former Darlington striker Curtis Main on a oneyear deal with the option of a further 12 months.
Main, who turns 19 next month, has impressed while on trial at Rockliffe Park after having his contract paid up at The Northern Echo Arena.
But Mowbray is keen to play down his arrival, claiming he is viewed as a first year professional rather than a forward that will slot straight in to his Championship squad next season.
Curtis is a young boy. He is an 18-year-old. We are just about to give young scholars their first year contracts and he fits in to that category,
said Mowbray.
He has been in to train with our scholars and he looks more developed than them even though he is the same age. For me he gets a contract because he has a sharpness about him. He has something to prove because of what happened at Darlington.
I don't know too much about him. I just went over to watch the youth team and thought who is that I have heard since that he played for Darlington at 15.
If we are offering contracts to four or five young scholars then why should we not offer him one We have to see if there's a personality flaw or something that let's him down, but for me he is well worth an opportunity.
Boro have extended the early bird deadline to purchase a 2011-12 season card from 5pm on Saturday to 6.30pm on Sunday to assist fans attending the Gary Parkinson Benefit Match.
Boro have extended the deadline to enable fans who are purchasing a season card to drop in their application and payment when visiting the Riverside for Sunday's 4pm kick-off.
Source: Northern Echo
Source: Northern Echo