MARGATE CITY — Did you hear the rumor that Lucy the Elephant is moving? You heard wrong.

"It's a rumor that's floating around Margate and the rumor is almost out of control but it is just a rumor and there is no fact to it as far as we know," said Richard Helfant, executive director and CEO of the Save Lucy Committee, the group that owns the iconic Jersey Shore elephant that celebrated her 137th anniversary this summer.

Lucy has stood at the end of Decatur Avenue since 1970 and is under lease to remain there until the end of 2019. Helfant said talks continue to keep her there for a long time.

Helfant thinks the rumor started over a proposed hotel overlay that is part of a proposed city master plan.

"We have no plans, nor has anyone approached us in any way, shape or form with regard to potentially moving Lucy," Helfant said.

Lucy has moved twice before. She was built on the beach in Cedar Grove Avenue in 1881. After a hurricane-like storm in 1906, she was picked up and moved 100 feet inland.

After a land sale, Lucy was almost torn down but a group was formed to restore her and moved her to her current location.

Over the years, Lucy has been a tavern and was even a single-family residence for a year, but most of her life she has been a tourist attraction.

"Lucy belongs in Margate; this is where Lucy should stay," Helfant said.

Harry Hurley contributed to this report.

Contact reporter Dan Alexander at Dan.Alexander@townsquaremedia.com or via Twitter @DanAlexanderNJ