Village approves nonbinding MOU with Cobalt Partners for sports complex; tourism fund to pay for market study

The Village of Brown Deer on July 21 approved a nonbinding memorandum of understanding with Cobalt Partners to pursue redevelopment of about 16 acres in the 8600 block of North Broadway/North Harbor Drive into an indoor sports and recreation facility, and voted to allocate $19,500 from the village tourism fund to pay for a market research study. Trustee John Johnson moved to approve the MOU; Trustee Thompson seconded the motion, which passed.

The MOU outlines a framework, not binding commitments, for Cobalt to proceed with acquisition due diligence, site-plan analysis, rezoning and a potential tax-increment financing package. Nathan, a village staff member, told the board the village may consider a short-term loan to help secure acquisition and cited a 75-day target for loan procurement in the MOU. "Within the MOU itself, the framework ... identifies the responsibilities of Cobalt as they go through their due diligence, their site plan analysis, their TIF analysis, the rezoning efforts," Nathan said.

Why it matters: developers and village officials said the project could bring regular visiting teams that support hotels and restaurants. Nathan said the village's tourism commission would help cover part of the market-study cost, and he read an email from the director of VISIT Milwaukee praising the concept as regionally significant.

Cobalt representatives described the concept as a multi-sport indoor facility with courts for basketball and volleyball, turf or hard-surface areas adaptable for futsal and other sports, and supporting commercial uses. Nathan and Cobalt said initial programming work and a market analysis are already underway; the village expects the market study to take about two to three months. "We are expecting it to [validate] our assumptions," Nathan said.

Board members asked about traffic, noise and neighboring homes. Nathan said the site is largely commercial with nearby arterial roads and that most activity is expected inside the building. "You could have some increase in traffic for sure," he said, but added the intersection will get a signal as part of planning work and that the site’s infrastructure can accommodate events.

Separately the board approved a service agreement and a $19,500 allocation from the tourism fund to hire a sports-facility market researcher. Trustee Johnson moved to allocate the funds; Trustee Woods seconded; the motion carried. Staff said the study will validate demand, estimate economic impact and inform any eventual TIF or loan decision. Nathan said the MOU and study are intended to move the concept through site-plan and entitlement processes, not to commit village funds beyond those authorizations.

Next steps: Cobalt will continue due diligence, the market study will begin within days, and village staff will evaluate financing options and rezoning when the analyses are complete.