MILWAUKEE (CBS 58) -- Milwaukee Mayor Cavalier Johnson has announced a $15 million proposed financing package for the creation of a public plaza in the Westown neighborhood, which will include both civic and transit amenities.

The proposed plaza will be named after Milwaukee politician, attorney, jurist and civil rights activist Vel R. Phillips. The project is being funded by tax incremental financing dollars and will provide a new public space and bring new life and development to this key part of Westown.

Speaking on the project in a press release issued on Thursday, March 9, Mayor Johnson stated, “The City of Milwaukee is prepared to move forward on the Vel R. Phillips Plaza that will add to the positive momentum taking place in the Westown neighborhood, which is witnessing a string of exciting development, investment and activity."

He added, "As the nation recognizes and celebrates Women’s History Month, I am looking forward to this plaza honoring the legacy, activism and public service of Vel R. Phillips, as well as providing a dynamic and active gathering place for the community to utilize and enjoy for years to come.”

The proposed plaza will be situated south of Wisconsin Avenue between N. 5th St. and N. Vel R. Phillips Ave. The project includes a 30,000 square foot plaza, a 2,900 square foot food/beverage retail space, a manicured garden, a flex space that could host farmers markets, food trucks or other community events, an informational kiosk, public art installations and a station to accommodate Milwaukee County’s Bus-Rapid Transit Line.

The project plan preserves over 50,000 square feet of space on the site for future development.

Milwaukee County Executive David Crowley also praised the project, stating, “I’m pleased to see this project come to fruition, as it aligns perfectly with Milwaukee County’s commitment to ensuring residents can take any mode of transport anywhere in the community in a safe, affordable and efficient manner.”

The Milwaukee Common Council, the Redevelopment Authority of the City of Milwaukee Board and the Milwaukee Joint Review Board will consider the proposed TID amendment in the near future.