Bloomberg Announces $200 Million 'American Cities Initiative'

"Michael R. Bloomberg will throw his financial might into helping beleaguered American mayors, creating a $200 million philanthropic program aimed at backing inventive policies at the city level and giving mayors a stronger hand in national politics," reports Alexander Burns.

According to Burbs, Bloomberg is expected to announce the initiative at the United States Conference of Mayors in Miami Beach. Bloomberg is also expected to "castigate federal officials and state governments around the country for undermining cities." The initiative is intended "as a method of shoring up the global influence of the United States despite turmoil in Washington."

A signature feature of the initiative "will be a 'Mayors Challenge,' through which city executives will be invited to compete for six- and seven-figure grants from Bloomberg Philanthropies, awarded to mayors who draw up compelling proposals for policy experimentation."

The article includes more context of the political environment surrounding urban policies and includes details of a phone interview with Bloomberg about the new initiative.