On Friday, the Texas Supreme Court ruled to block Galveston County's new redistricting maps for the November election.
Trump approved a major disaster declaration to open up the funding.
Data show that 70% of families using vouchers already attend private schools.
The deal would end the The Woodlands Regional Partnership Agreement with Houston, which is a joint fund used to pay for projects that benefit the city and the township.
At least 14 Texas districts are at risk of school takeovers next year.
Republicans voted for the measure, while Democrats opposed it.