Bloomberg Investing $30 Million of His Money in Program to Aid Minority Youth. By Michael Barbaro, Fernando Santos
The administration of Mayor Michael R. Bloomberg, in a blunt acknowledgment that thousands of young black and Latino men are cut off from New York’s civic, educational and economic life, plans to spend nearly $130 million on far-reaching measures to improve their circumstances.
The program, the most ambitious policy push of Mr. Bloomberg’s third term, would overhaul how the government interacts with a population of about 315,000 New Yorkers who are disproportionately undereducated, incarcerated and unemployed.
To pay for the endeavor in a time of fiscal austerity, the city is relying on an unusual source: Mr. Bloomberg himself, who intends to use his personal fortune to finance about a quarter of the cost, city officials said.
- US: Minorities Plan Failing (apperi.org)
- New York City Wants to Solve Poverty, Will it Work? (inequalitiesblog.wordpress.com)