MEMPHIS, Tenn. — Memphis Mayor Paul Young announced Tuesday that Bloomberg Philanthropies has chosen the city to be part of its new program that provides “historic levels” of federal funding to help transform communities.
Bloomberg American Sustainable Cities is a brand new program that launched in March that seeks to help cities fund local projects, especially in disadvantaged communities dealing with pollution.
Young calls the opportunity a unique chance to build a better Memphis.
“I think this grant gives us an opportunity to be trail blazers,” he said.
Bloomberg has made $200 million available to the 25 chosen cities to fund building and transportation projects over a three-year period. They will also send an innovation team to each city to help with the planning process.
“Working to help secure federal grants and filling out applications and things of that nature,” Young said. “Also helping us grow some of the programming that we already have.”
In a city plagued by blight and illegal dumping, the Mayor said creating more affordable housing is their top priority.
“Our families are suffering as a result," he said. "They're suffering with high utility costs. They're suffering with poor indoor air quality. The homes themselves are making people in our community sick.”
Young told ABC24 he also has plans to use the funding to change public transportation.
“My goal is to began to reduce the reliance on those large buses and having these vans and other rideshare models be a part of it,” the mayor said.
The program was created to help cities close the racial wealth gap and create energy efficient, thriving communities.
Young wants Memphis to help lead the charge.
“To be the ones that figure out approaches that make a difference in the lives of our residents,” he said.
Mayor Young said Bloomberg is in the process of assembling Memphis’ innovation team, and they will know more about the funding options and how much money the city can use when the team arrives.
The mayor expects it to be several months before the city starts to secure those federal grants.