Kemah City Council will consider a resolution to designate areas of land between FM 2094 and FM 518 for federal investment through the IRS’s Qualified Opportunity Zone program at a June 17 meeting.

Opportunity Zone Status

By designating the two tracts as local priority investment areas, the city would take a preliminary step toward opening opportunities for long-term private capital investments that could fund specific infrastructure projects and housing initiatives, according to city documents.

Opportunity zone status is granted only through a state nomination and federal certification process, per the documents.

Nature Reserve Grant

City Council will also consider approving an agreement with the Texas General Land Office to receive a $2.6 million grant to fund design, engineering and construction services for a 57-acre nature reserve, according to city documents.

Kemah City Council will meet at 6 p.m. June 17 at Kemah City Hall, located at 1401 SH 146, Kemah.

Original reporting: Community Impact — Houston — read the source article.