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 cover about a quarter of the cost, city officials said. A $30 million contribution from Mr. Bloomberg’s foundation would be matched by that of a fellow billionaire, George Soros, a hedge fund manager, with the remainder being paid for by the city.
