FINANCIAL_SERVICESRECOMMENDED

CDA backs increased TIF grant for Boston Store site

Brookfield staff recommended that the Community Development Authority endorse an amendment to Tax Increment District No. 9 to increase Project Costs, resulting in a total cash grant/forgivable loan of $6,387,165 to Hephaestus Development Partners, LLC for redevelopment of the former Boston Store site at 15875 W. Bluemound Road. The assistance would cover extraordinary site, utility, soil remediation, amenity, and holding costs associated with constructing medical office, experiential retail, other retail uses, and land for the Brookfield Public Market.

Status
RECOMMENDED
Document date
August 25, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Hephaestus Development Partners Llc
Agency
City of Brookfield · WI

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$6,387,165
Contract type
FINANCIAL_SERVICES
Contract term
TID No. 9 projected to remain open until 2051 (25 years)
Renewal date
2051-12-31
Renewal
Original TID No. 9 grant of $4,512,165 approved in 2025 is proposed to be amended in 2026 to add $1,875,000, for a total of $6,387,165, distributed via a phased TID Incentive Agreement (Phase 1, 2, and 3 payouts tied to land sale, preconstruction meeting, and substantial completion of the medical office building). TID No. 9 term remains projected at 25 years, with potential future extension if state law allows.
Document type
AgendaPacket
Source document
City of Brookfield Community Development Authority Agenda Packet 2026-08-25

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Brookfield?

Hephaestus Development Partners Llc was awarded this financial services contract by City of Brookfield, as recorded on August 25, 2026. The contract value is $6,387,165.

How much is the Hephaestus Development Partners Llc contract with City of Brookfield worth?

The Hephaestus Development Partners Llc contract with City of Brookfield is valued at $6,387,165, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Brookfield Community Development Authority Agenda Packet 2026-08-25 (AgendaPacket), dated August 25, 2026 from City of Brookfield. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hephaestus Development Partners Llc hold?

Hephaestus Development Partners Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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