SAN DIEGO -- The NTC Foundation is one of several San Diego organizations to apply for federal stimulus funds.

They believe their NTC Promenade renovation project is just what President Barack Obama had in mind when creating his economic recovery package.

For those San Diegans curious to see where their stimulus dollars might be going, they may not need to look any further than Liberty Station. The NTC Foundation is continuing to renovate the former military base but they are looking for some help.

"We're seeking about $20 million. We've identified about $10 million, so right now we're seeking about $10 million in federal stimulus funds to help put those people to work and get these buildings underway," said Alan Ziter, executive director of the NTC Foundation.

The eight-building renovation is expected to create jobs requiring over 37,000 man-hours divided amongst 32 local companies.

"Demolition crews to roofers to heating system people, the cement, the tile workers, the masonry, electricians, a wide range of sub-contractors that will be employed right away," said Ziter.

The result would be 90,000 sq. ft. of leasable space used for retail, exhibition and other business purposes, and the demand is already high.

"We've got about 80 non-profit organizations, as well as individual artists, and those in the creative industries here in San Diego on a waiting list waiting to move in to these buildings once they're renovated," said Ziter

Competition for funds will be fierce but the foundation is confident.

"You have to look at what types of projects will have a long-lasting impact here in San Diego -- historic buildings, preserving the legacy of Naval Training Center, creating a new civic arts and cultural community and immediate job creation. I think our project stacks up well against most others," said Ziter.