The public will pay nearly 60 percent of the cost of the proposed $450 million Detroit Red Wings arena in downtown Detroit under a plan disclosed Wednesday.

Property taxes would pay for $261.5 million (58 percent) of the building's construction cost while the team's ownership would provide $188.4 million (42 percent), according to details provided by the state.

Those are July 2013 dollars based on bonds with a 5.91 percent interest rate.

Those are some of the details that emerged Wednesday during a presentation provided to the Michigan Strategic Fund board, which approved the sale of $450 million in 30-year tax-exempt private activity bonds for the project.

Olympia Development of Michigan gave the fund board data that showed a breakdown of the project's costs.

Olympia, which will operate the arena under a 35-year concession agreement with Detroit's Downtown Development Authority, is the property development arm of Mike and Marian Ilitch's $2 billion Detroit business empire that includes the Red Wings, Detroit Tigers and the Little Caesars pizza chain.

The hockey arena, which would be finished by 2017 and replace city-owned Joe Louis Arena, is part of a wider $650 million plan to create a 45-acre district that includes retail, residential, office and restaurant space on the venue site, located west of Woodward Avenue and I-75.

The 18,000-seat arena would have 1,200 premium seats, an attached 500-space parking garage and 10,000 square feet of retail space anchored by a Red Wings merchandise store, restaurants and other retail, according to the project plan.

Possible ancillary developments and infrastructure work the DDA and Olympia said are possible on the site include:

• An elevated pedestrian bridge over the Fisher Freeway, at Park or Clifford avenues.

• Widening the Woodward Avenue bridge over the Fisher Freeway.

• A 140,000-square-foot office and retail development at Woodward Avenue and Sproat Street.

• 25,000-square-foot office and retail project along Woodward.

• A hotel with 20,000 square feet of retail space.

• Several parking structures that would have ground-floor retail space.

• Renovation of the Detroit Life Building, Blenheim Building and 1922 Cass for retail, residential and office space.

• Surface parking lots.

• Streetscape projects.