Bloomberg Footing $30M Bill for Minority Youth Push Hizzoner opens wallet for blacks, Latinos By Kevin Spak, Newser Staff Posted Aug 4, 2011 1:11 PM CDT 26 comments Comments Michael Bloomberg is putting his money where his mouth is. (AP Photo/Richard Drew, File) (Newser) – Michael Bloomberg thinks his city doesn’t do enough for black and Latino youth—and he’s putting his money where his mouth is. The mayor is pushing for a $130 million program designed to help New York City youth, and in an unusual move, he’s offering to chip in $30 million from his own pocket for it, the New York Times reports. Another $30 million would be picked up by fellow billionaire George Soros, with the city paying for the rest. “Blacks and Latinos are not fully sharing in the promise of American freedom,” Bloomberg said in a speech today announcing the program. The program will establish job centers in predominantly minority areas, offer internships, cut minority recidivism by retraining probation officers, and start fatherhood classes. It will also for the first time factor minority academic performance into how city schools are rated—which can determine whether schools remain open.