A plan is in place to build a multi-purpose arena at Schenectady's Mohawk Harbor, officials said.

The Schenectady Metroplex Development Authority announced Monday that an agreement is finalized for "a public-private partnership" for a $50 million, 2,200-seat ice hockey rink to be the new home for Union College hockey. That arena capacity would expand to as many as 3,600 for what the authority calls "other sporting events, trade shows, special events and conventions."

The authority news release says Union will contribute $20 million to the project over 25 years, and the Garnet Chargers' men's and women's hockey teams will play there. West Yard Properties LLC, a subsidiary of the Galesi Group, is named as the developer of the arena.

Funding will also come from $10 million in state money; $5 million from Schenectady County; $2.5 million from the city of Schenectady; and $1 million from retired Price Chopper CEO Neil Golub.

Officials expect a spring groundbreaking on the planned 97,178-square foot project, with construction expected to be completed for Union hockey to play at the arena in the 2025-26 season.