For the second time in two years, the city is considering closing failing schools — two which opened just three years ago.

Kappa VII in Clinton Hill, Brooklyn, and the Cornerstone Academy for Social Action in The Bronx got about $15 million in taxpayer money dedicated to serving grades three through eight.

That investment yielded last year a total of 54 students proficient in reading and 70 in math — out of 311 enrolled in grades that the state tests annually.

Forty-seven schools were targeted this week for overhauls, including possible closure. Their fate won’t be known until next month at the earliest, officials said.