New York Mayor Michael Bloomberg said Wednesday that his foundation will offer cash prizes to fellow urban leaders who come up with the best new ideas for improving services to their constituents, writes the New York Daily News.

The program, which Mr. Bloomberg announced on “CBS This Morning,” will pay a $5-million top prize, with four runner-up cities claiming $1-million each. The winners will be chosen from among 20 finalists selected to take part in a two-day camp to refine their proposals. Cities with populations of more than 30,000 will be eligible.

“If you look, the federal and state government seems to be paralyzed, and they work at a policy level,” Mr. Bloomberg said. “So we are trying to find out what’s the best ideas each mayor could maybe have, a different idea that may be transferrable to another city.”

The mayor’s foundation last year awarded $24-million in grants to five cities to develop and manage creative new programs.