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Several census tracts in Kemah could be designated as priority investment areas, thereby qualifying for long-term private investment.
What to expect
At a June 17 meeting, 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.
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.
Also on the agenda
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.
Stay tuned
Kemah City Council will meet at 6 p.m. June 17 at Kemah City Hall, located at 1401 SH 146, Kemah.
