Money

The public money in the record — whose it is, which decision it reaches, under what instrument state, and what each project is stated to cost.

$106.18McommittedS-07 S-15 S-17 S-18 S-22 S-23 S-41 S-88 S-89 S-90

▏$11.4Mreported, not countedS-60 S-61

$76Mrequested, unsignedS-09 S-10 S-11 S-45 S-70 S-104 S-105

Committed = each decision's primary funding instrument, read from an executed instrument the corpus holds. Jobs = exact pitched figures only. full method →

Figures are the Timeline's, derived from the same fields of record/decisions/timeline.yaml by the same function, and asserted identical at validation. 107 sources on Evidence. As of 2026-09-24.

The Timeline tracks each decision's primary instrument: $106.18M committed · $76M requested · $11.4M reported. This page adds $136.38M of secondary public money the record holds at reported stage — other grants, contributions, and stack lines with no executed instrument in the corpus. Nothing is counted twice; nothing here changes the committed total. S-09 S-29 S-46 S-48 S-53 S-57 S-60 S-61 S-89 S-106 S-107 ledger method →

Whose money

Local government

City of Pensacola · Port of Pensacola · Escambia County

$1.99McommittedS-17

▏$41.68Mreported, not countedS-57 S-89 S-106 S-107

by paying body

Port of Pensacola$1.99M committed S-17

City of Pensacola (receives — Base Rent prepaid by the Tenant, BMQRA)▏$3.08M reported, not counted S-106 S-107

City of Pensacola▏$26.8M reported, not counted S-57 S-89

Escambia County▏$11.8M reported, not counted S-57

5 rows · ST Titan / Project Titan, American Magic, HPMCE Dock Complex

Triumph Gulf Coast

Triumph Gulf Coast, Inc.

$98.21McommittedS-07 S-15 S-18 S-22 S-23 S-41 S-88 S-89 S-90

$76Mrequested, unsignedS-09 S-10 S-11 S-45 S-70 S-104 S-105

by paying body

Triumph Gulf Coast, Inc.$98.21M committed · $76M requested, unsigned S-07 S-09 S-10 S-11 S-15 S-18 S-22 S-23 S-41 S-45 S-70 S-88 S-89 S-90 S-104 S-105

5 rows · ST Titan / Project Titan, IHMC Healthspan Center, American Magic, UWF WAVE, Birdon / Project Maeve

State of Florida

FDOT · FSTED · Florida Commerce (DEO) / Job Growth Grant Fund · Legislature

$5.98McommittedS-17

▏$82.15Mreported, not countedS-29 S-46 S-48 S-53 S-57 S-60 S-61

by paying body

FSTED (FDOT seaport program)$5.98M committed · ▏$2.37M reported, not counted S-17 S-60 S-61

Florida Commerce (DEO) — Job Growth Grant▏$3.9M reported, not counted S-29 S-46

Florida Job Growth Grant Fund▏$9M reported, not counted S-46 S-48

FDOT (aviation)▏$48M reported, not counted S-53 S-57

Florida Commerce (DEO) — Job Growth Grant Fund▏$18.88M reported, not counted S-53 S-57

6 rows · ST Titan / Project Titan, American Magic, Port Road & Rail, Birdon / Project Maeve, HPMCE Dock Complex

Federal & other

HUD CDBG-DR (via Florida Commerce) · U.S. EDA · U.S. Navy MIB Program

▏$23.95Mreported, not countedS-09 S-53 S-57 S-60 S-61

by paying body

HUD CDBG-DR, via Florida Commerce▏$11.4M reported, not counted S-60 S-61

U.S. Navy — Maritime Industrial Base Program▏$300,000 reported, not counted S-09

U.S. Economic Development Administration▏$12.25M reported, not counted S-53 S-57

3 rows · ST Titan / Project Titan, Port Road & Rail, Birdon / Project Maeve

Committed and requested are the primary instruments the Timeline counts. Reported is what the record states but does not read from an executed funding instrument — the Timeline's own reported line, and the stated stacks, co-funding, letters and announced awards listed below it. Stages are never summed together. full method →

To which decision

Local government

ST Titan / Project Titan$30M reported, not countedS-57

IHMC Healthspan Center—

American Magic$11.68M reported, not countedS-89 S-106 S-107

Port Road & Rail—

UWF WAVE—

Birdon / Project Maeve—

HPMCE Dock Complex$1.99M committedS-17

Triumph Gulf Coast

ST Titan / Project Titan$66M committedS-41

IHMC Healthspan Center$20.4M committedS-22 S-23 S-88

American Magic$8.5M committedS-07 S-15 S-89

Port Road & Rail—

UWF WAVE$3.32M committedS-18 S-90

Birdon / Project Maeve$76M requested, unsignedS-09 S-10 S-11 S-45 S-70 S-104 S-105

HPMCE Dock Complex—

State of Florida

ST Titan / Project Titan$66.88M reported, not countedS-53 S-57

IHMC Healthspan Center—

American Magic$3.9M reported, not countedS-29 S-46

Port Road & Rail$2.37M reported, not countedS-60 S-61

UWF WAVE—

Birdon / Project Maeve$9M reported, not countedS-46 S-48

HPMCE Dock Complex$5.98M committedS-17

Federal & other

ST Titan / Project Titan$12.25M reported, not countedS-53 S-57

IHMC Healthspan Center—

American Magic—

Port Road & Rail$11.4M reported, not countedS-60 S-61

UWF WAVE—

Birdon / Project Maeve$300,000 reported, not countedS-09

HPMCE Dock Complex—

Each cell is the funder's rows for that decision, by stage. A dash is an absence in the record, not a zero. full method →

Under what instrument state

Committed = read from an executed primary public-funding instrument the corpus holds. Requested = unsigned. Reported = stated by the record, not read from such an instrument — shown, chipped, never counted. full method →

committed

$106,183,597 · 6 rows S-07 S-15 S-17 S-18 S-22 S-23 S-41 S-88 S-89 S-90

Funder — paying body · decision · recipient	Amount	Instrument · citations
Triumph Gulf Coast — Triumph Gulf Coast, Inc. · ST Titan / Project Titan City of Pensacola — ST Titan #120 (MRO campus, Pensacola International Airport)	$66,000,000 committed	Triumph GAA #120 — grant amount unchanged across all five amendments S-41 executed GAA 2019-04-29: $56M immediate + 2×$5M tranches contingent on Triumph's 2020/2021 state receipts (§9.6, C-STE-0021); grant amount unchanged across all five amendments (S-53–S-57)
Triumph Gulf Coast — Triumph Gulf Coast, Inc. · IHMC Healthspan Center IHMC (grantee) — Healthspan Center #233	$20,396,286 committed	Triumph GAA #233 as amended (Fifth Amendment; original 2020 grant $6,078,795) S-23 S-22 S-88 current grant after five amendments (S-23, Fifth Amendment); original 2020 grant $6,078,795 (C-IHMC-0001); base GAA in the corpus as S-88
Triumph Gulf Coast — Triumph Gulf Coast, Inc. · American Magic City of Pensacola — American Magic #315 (facility leased to BMQRA)	$8,500,000 committed	Triumph GAA #315 (facility leased to BMQRA) S-89 S-07 S-15 per Triumph's own tracker (S-07) and the Port FY2025 AFR (S-15); executed GAA in the corpus as S-89 (intaked 2026-08-23), extraction queued
Triumph Gulf Coast — Triumph Gulf Coast, Inc. · UWF WAVE UWF Board of Trustees — WAVE #330	$3,315,600 committed	Triumph GAA #330 (executed term sheet S-18; executed GAA S-90, unextracted) S-90 S-18 term sheet executed 2024-12-18 (S-18, C-WAVE-0002); definitive GAA executed 2025-03-13 and in the corpus as S-90, not yet extracted — the $3,315,600 remains the term-sheet figure
Local government — Port of Pensacola · HPMCE Dock Complex Port of Pensacola — local match, HPMCE Dock Complex	$1,992,860 committed	Port local match (Supplemental Budget Resolution 2025-99) S-17 Port-appropriated local match (Supplemental Budget Resolution 2025-99, S-17) — executed construction contract not retrieved (S-16 copy's execution line blank; W-01)
State of Florida — FSTED (FDOT seaport program) · HPMCE Dock Complex Port of Pensacola — HPMCE Dock Complex (American Magic Phase II)	$5,978,851 committed	FSTED Grant G3B51 S-17 Grant G3B51; Council award #26-190; the memo's own body/table transposition ($5,978,581 vs $5,978,851) is preserved in the record (Run 05 §2)

requested, unsigned

$76,000,000 · 1 row S-09 S-10 S-11 S-45 S-70 S-104 S-105

Funder — paying body · decision · recipient	Amount	Instrument · citations
Triumph Gulf Coast — Triumph Gulf Coast, Inc. · Birdon / Project Maeve City of Pensacola — Birdon / Project Maeve #367	$76,000,000 requested, unsigned	Triumph #367 request — term sheet executed 2026-07-23 and expressly non-binding by its own terms; no grant agreement executed (not on Triumph's 2026-08-19 agenda; September 2026 earliest). [Status 2026-09-24: At Triumph's 2026-08-19 meeting, staff called the Job Growth Grant Fund award "one component of partner funding for the larger Project Maeve initiative" and anticipated that "the related agreement" would appear on the next agenda (draft minutes, not yet approved; the instrument is not named). The DRAFT agenda for that next meeting, 2026-10-01, carries no Birdon / Project Maeve item. GAA #367 appears on neither Triumph agenda the corpus holds.] S-09 S-10 S-11 S-70 S-45 S-104 S-105 requested — nothing binding yet. Term sheet board-approved 2026-06-22 (S-47), executed 2026-07-23 (S-70) and expressly non-binding by its own terms (S-11); the GAA is the instrument that would bind and does not yet exist — not on Triumph's 2026-08-19 agenda (S-45); September 2026 earliest. Figure per the application (C-MAEV-0006)

reported, not counted

$147,786,139 · 12 rows S-09 S-29 S-46 S-48 S-53 S-57 S-60 S-61 S-89 S-106 S-107

$11,403,935 is the Timeline's own reported line; $136,382,204 is secondary — stated stacks, co-funding, letters and an announced award, listed here and never summed into the top line.

Funder — paying body · decision · recipient	Amount	Instrument · citations
Local government — City of Pensacola · ST Titan / Project Titan City of Pensacola (as amended)	$18,200,000 reported, not counted	stated stack line — GAA #120 replacement Exhibit C, Fifth Amendment (effective 2026-02-03) S-57 read from the stated project stack, a projection — reported, not counted
Local government — Escambia County · ST Titan / Project Titan Escambia County (as amended)	$11,800,000 reported, not counted	stated stack line — GAA #120 replacement Exhibit C, Fifth Amendment (effective 2026-02-03) S-57 the County instrument is not in the corpus (Run 01 W-cand-7, unpromoted)
State of Florida — FDOT (aviation) · ST Titan / Project Titan FDOT — grant (one line as amended)	$48,000,000 reported, not counted	stated stack line — GAA #120 replacement Exhibit C, Fifth Amendment (effective 2026-02-03) S-53 S-57 the FDOT instrument itself is not in the corpus (Run 01 W-cand-3, unpromoted); read from the executed GAA's replacement exhibit — reported, not counted
State of Florida — Florida Commerce (DEO) — Job Growth Grant Fund · ST Titan / Project Titan DEO / Governor's Job Growth Grant Fund (as amended)	$18,875,000 reported, not counted	stated stack line — GAA #120 replacement Exhibit C, Fifth Amendment (effective 2026-02-03) S-53 S-57 read from the stated project stack, a projection — reported, not counted
Federal & other — U.S. Economic Development Administration · ST Titan / Project Titan Federal EDA	$12,250,000 reported, not counted	stated stack line — GAA #120 replacement Exhibit C, Fifth Amendment (effective 2026-02-03) S-53 S-57 read from the stated project stack, a projection — reported, not counted
Local government — City of Pensacola (receives — Base Rent prepaid by the Tenant, BMQRA) · American Magic City of Pensacola — #315 Base Rent Prepayment, Lease Years 1–8 (partial) and 11–13, due by 2025-09-30	$3,082,286 reported, not counted	Lease First Amendment §1.i — published copy tenant-executed only (City blocks and effective date blank; W-45) S-106 S-107 tenant money paid to the City in "consideration of City's entry into and construction of the Project" and "entirely non-refundable to Tenant" — not a public grant; its delivery by 2025-09-30 is not in the corpus; the amendment's execution by the City is not in the corpus (W-45) — reported, not counted. [Dated note 2026-09-24, WO-040 review round 2:] Council approved the amendment 2025-04-10 (item 25-324, Yes 5 / No 0) and authorized the Mayor to finalize and execute it (S-107, C-0162, C-0164); the executed counterpart is not in the public record located to date, so the stage stays reported
Local government — City of Pensacola · American Magic Grantee — City of Pensacola (of which $3.2M existing building)	$8,600,000 reported, not counted	stated stack line — GAA #315 Exhibit A budget, as executed 2023-10-02 (S-89 printed pp. 26–27) S-89 as printed: Design, Construction and Equipment $5,400,000 + Existing Building $3,200,000 = Grantee Total $8,600,000. Whether the $3,200,000 existing-building component is an in-kind value (the application calls it a replacement-value appraisal, C-0124) or a flow is recorded here, not resolved (WO-036 ruling). Read from the executed GAA's exhibit — a stated match, not a funding instrument for the City's own money — reported, not counted.
State of Florida — Florida Commerce (DEO) — Job Growth Grant · American Magic American Magic #315 Phase 1 funds — Florida Dept. of Commerce (DEO) Job Growth Grant, per the lease's Exhibit C estimate	$3,900,000 reported, not counted	FL Commerce grant agreement — the lease's 'Estimated Available Funds' line (wanted W-08) S-29 S-46 a lease-time estimate, not an executed grant instrument in the corpus (W-08 wanted) — reported, not counted; the 2026-08-12 coverage frames it as a 2023 Job Growth Grant (S-46)
Federal & other — HUD CDBG-DR, via Florida Commerce · Port Road & Rail City of Pensacola — HS002 CDBG-DR subrecipient agreement (HUD Hurricane Sally recovery funds via Florida Commerce)	$11,403,935 reported, not counted	CDBG-DR reallocation, HS002 as amended (Amendment One, +$2,300,000, council 26-402 2026-03-26) — $11,403,935.38 floored to whole dollars here; FSTED seaport co-funding ($2,374,918, G2838 + G2856) is shown on Money as reported — not counted, in its own ledger row. S-60 S-61 the figure is the council record's own (S-60, S-61; C-PRR-0003, C-PRR-0005); the timeline entry's own note follows — reported, not counted — executing instrument not retrieved (published copy unexecuted, blank signature blocks; fully executed copy W-30)
State of Florida — FSTED (FDOT seaport program) · Port Road & Rail City of Pensacola — FSTED seaport co-funding of the rail/road rebuild (G2838 + G2856)	$2,374,918 reported, not counted	FSTED grants G2838 ($1,524,565, approved 2022-03-24) and G2856 ($850,353, approved 2022-04-14) — the HS002 'leverage' S-60 S-61 read from the council record and HS002 Attachment A (the $2,374,917.98 the City must fully expend before any CDBG-DR funds); the grant instruments themselves are wanted (W-31) — reported, not counted
State of Florida — Florida Job Growth Grant Fund · Birdon / Project Maeve City of Pensacola — Florida Job Growth Grant for the Birdon facility (site development, utilities, facility construction)	$9,000,000 reported, not counted	Florida Job Growth Grant Fund award, presented 2026-08-12 (City newsflash #5184; same-day coverage) S-48 S-46 announced and reported; no grant instrument in the corpus — reported, not counted. The June 2026 stack projected "$14 million" from the fund (C-MAEV-new-2; Q-07 holds the $5M gap open)
Federal & other — U.S. Navy — Maritime Industrial Base Program · Birdon / Project Maeve Project Maeve workforce analysis / facility design — Dept. of the Navy, Maritime Industrial Base (MIB) Program	$300,000 reported, not counted	MIB Program grant, as stated in the MIB support letter inside the application (S-09) S-09 read from a support letter, not from a funding instrument the corpus holds — reported, not counted (founder ruling R-2, 2026-09-22; the row stood as 'committed' on Money from 2026-08-10 to this order)

What each project is stated to cost

A stated stack is what the instrument projects; only the primary funding instrument is counted in the top line. Where the record revises a stack, every version renders, dated. Where the record composes no stack, the page says so instead of drawing one. full method →

ST Titan / Project Titan Triumph #120

Capital stack of the $210.12M project, as stated S-4131% — the primary public funding above

$66MTriumph GAA #120committed

$48MFDOT — grant (one line as amended)reported, not counted

$18.2MCity of Pensacola (as amended)reported, not counted

$11.8MEscambia County (as amended)reported, not counted

$18.88MDEO / Governor's Job Growth Grant Fund (as amended)reported, not counted

$12.25MFederal EDAreported, not counted

$35MVT MAE (private share)

primary instrument S-41stack as amended · 2026-02-03 S-53 S-55 S-57as executed · 2019-04-29 S-41 S-44

the stack, version by version → 2 versions · 2019-04-29 · 2026-02-03 — the record's own revisions, both kept

as executed · 2019-04-29 — GAA #120 Exhibit C, as executed (Table 2 of the Exhibit C transcription) S-41
FDOT — grant (original award) $25M S-41 S-44 · FDOT — grant (gap-closing request) $20M S-41 S-44 · City of Pensacola $15M S-41 S-44 · Escambia County $15M S-41 S-44 · Governor's Job Growth Grant Fund $14M S-41 S-44 · Federal EDA $12.25M S-41 S-44 · Legislative appropriation $3M S-41 S-44 · City funding — bridge loan / additional grants $4.88M S-41 S-44 · VT MAE (private share) $35M S-41

as amended (current) · 2026-02-03 — Exhibit C as replaced — first by the First Amendment (S-53, C-STE-0036: FDOT one line at $48M; DEO/JGGF $18,875,000), the Third (S-55), and the Fifth Amendment (S-57, C-STE-0066: City $18.2M, Escambia $11.8M; source totals unchanged from the Third). The stack was rebalanced, never resized: $210,125,000 in every version. S-57 S-53 S-55
FDOT — grant (one line as amended) $48M S-53 S-57 · City of Pensacola (as amended) $18.2M S-57 · Escambia County (as amended) $11.8M S-57 · DEO / Governor's Job Growth Grant Fund (as amended) $18.88M S-53 S-57 · Federal EDA $12.25M S-53 S-57 · VT MAE (private share) $35M S-53 S-57

IHMC Healthspan Center Triumph #233

Capital stack of the $111.73M project, as stated S-2318% — the primary public funding above

$20.4MTriumph GAA #233 as amendedcommitted

$91.34Mbalance of the stated project total — composition not in the record

primary instrument S-22 S-23 S-88stated total S-23

American Magic Triumph #315

Capital stack of the $49.1M project, as stated S-8917% — the primary public funding above

$8.5MTriumph GAA #315committed

$8.6MGrantee — City of Pensacola (of which $3.2M existing building)reported, not counted

$32MAmerican Magic Capital Investment (private) — Match Source 1

primary instrument S-07 S-15 S-89stack as executed · 2023-10-02 S-89as filed · 2023-04-27 S-27

the stack, version by version → 2 versions · 2023-04-27 · 2023-10-02 — the record's own revisions, both kept

as filed · 2023-04-27 — The City's application to Triumph, budget narrative BUDGET table (C-0124): Triumph $8,500,000 · Governor's Job Growth Grant Fund $3,900,000 · FSTED $1,500,000 · Replacement Value Whse 10 $3,200,000 · American Magic Capital Investment $32,000,000 · Escambia TDC $1,500,000 · printed TOTAL $45,200,000 — the lines as printed do not add to the printed total (C-0124b); both preserved. "Attachment B", the budget the application says to see, is not in the archived file (A-27-1). S-27
Governor's Job Growth Grant Fund (as filed — applied for, not yet awarded) $3.9M S-27 · FSTED (as filed — applied for, not yet awarded) $1.5M S-27 · Replacement Value Whse 10 (a 2020 appraisal, as filed) $3.2M S-27 · Escambia TDC (three-year award at $500,000/yr, as filed) $1.5M S-27 · American Magic Capital Investment (private) $32M S-27

as executed (current) · 2023-10-02 — The fully executed Grant Award Agreement's Exhibit A, "American Magic at the Port of Pensacola, Project 315, Oct-23" (C-0122, C-0123): Project Total $49,100,000 = Design, Construction and Equipment $45,900,000 + Existing Building $3,200,000; by source Triumph $8,500,000 · Grantee $8,600,000 · American Magic Capital Investment $32,000,000. §2 and §5.2 state the same total and the $40,600,000 of Matching Funds (C-0120, C-0121). S-89
Grantee — City of Pensacola (of which $3.2M existing building) $8.6M S-89 · American Magic Capital Investment (private) — Match Source 1 $32M S-89

Stated beside it, reported, not counted: $3,900,000 — American Magic #315 Phase 1 funds — Florida Dept. of Commerce (DEO) Job Growth Grant, per the lease's Exhibit C estimate S-29 S-46 · $3,082,286 — City of Pensacola — #315 Base Rent Prepayment, Lease Years 1–8 (partial) and 11–13, due by 2025-09-30 S-106 S-107

Port Road & Rail CDBG-DR HS002 + FSTED

◈ no stated project total

The record does not carry a merged project-total claim for this decision, so no capital-stack bar renders — a missing figure is stated, never typed in. The public money above is what the record states; costs and stacks the record carries appear, cited, in the record layer below.

Stated beside it, reported, not counted: $2,374,918 — City of Pensacola — FSTED seaport co-funding of the rail/road rebuild (G2838 + G2856) S-60 S-61

UWF WAVE Triumph #330

Capital stack of the $16.66M project, as stated S-1820% — the primary public funding above

$3.32MTriumph GAA #330committed

$13.34Mmatch, per the term sheet (composition not stated)

primary instrument S-18 S-90stack as stated · 2024-12-18 S-18

Birdon / Project Maeve Triumph #367

Capital stack of the $275M project, as stated S-09 S-1028% — the primary public funding above

$76MTriumph #367 requestrequested, unsigned

$199Mbalance of the stated project total — composition not in the record

primary instrument S-09 S-10 S-11 S-45 S-70 S-104 S-105stated total S-09 S-10

Stated beside it, reported, not counted: $300,000 — Project Maeve workforce analysis / facility design — Dept. of the Navy, Maritime Industrial Base (MIB) Program S-09 · $9,000,000 — City of Pensacola — Florida Job Growth Grant for the Birdon facility (site development, utilities, facility construction) S-48 S-46

HPMCE Dock Complex Bid 26-029 · FSTED

Capital stack of the $7.97M project, as stated S-17100% — the primary public funding above

$5.98MFSTED Grant G3B51committed

$1.99MPort local matchcommitted

primary instruments S-17stack as stated · 2026-05-11 S-17

Every figure on this page is summed at build from record/decisions/timeline.yaml and record/decisions/money.yaml and chipped where it renders; the top line is asserted equal to the Timeline's by scripts/validate.py. Machine-readable: money.json.