There are alternatives.
1. Use Linux and Opencobol
OpenCOBOL | Free Development software downloads at SourceForge.net
2. Install Opencobol on your Windows Server, and migrate your programs and data.
Migration means writing a program to unload each Microfocus file to plain text and an Opencobol program to read the plain text and create ISAM files, and modifying the syntax of your existing code to suit.
Do you have anyone that can write cobol?
How many lines of cobol code is there?