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The project was conceived and promoted by a group of prominent citizens including Admiral [[Jack Fetterman]], businessman [[Quint Studer]] and [[UWF]] President [[John Cavanaugh]]. An initial layout was refined in public focus groups by urban planner [[Ray Gindroz]], and the revised conceptual plan was approved by the [[Pensacola City Council]] in [[2005]]. A grassroots ad hoc group called [[Save Our City]] attempted to overturn the council's decision and forced a [[Community Maritime Park referendum|special referendum]], but the project was affirmed by city voters on [[September 5]], [[2006]].
The park will be [[Community Maritime Park#Funding|funded]] by a $40 million [[Community Redevelopment Agency]] bond and an estimated $30 million or more in private investment. Control and budget for the project is overseen by the non-profit [[Community Maritime Park Associates]]. The master developer is Utah-based Land Capital Group, which formed an ad hoc corporation, [[Maritime Park Development Partners]] (MDPDMPDP), to handle construction and development.
The park is named for former [[Mayor of Pensacola|Mayor]] [[Vince Whibbs]], who became a principal of the venture after the death of Admiral Fetterman before passing away himself during the referendum campaign.