Palace are in the hunt for a defender after selling Fitz Hall to Premiership side Wigan for an undisclosed fee, and Taylor wants Southwark-born Cort.
The 6'4" central defender signed for City on a free transfer when his contract ran out at Southend two years ago, and has been almost ever present aside from a handful of games missed through injury. His importance to City is obvious, and he signed a new contract recently keeping him at the club until 2009.
This transfer bid shows that Taylor has money to spend, and he could be following his usual transfer policy of signing players he's previously managed. That may well mean he's got his eye on some of Cort's teammates, such as player of the year Boaz Myhill who could replace transfer listed goalkeeper Gabor Kiraly.