The Urban Renewal Authority (URA) is set to receive HK$300 million for rolling out an upgraded tendering platform to tighten scrutiny of contractors for renovation projects, with sources saying a third of the money will be used to hire professionals to assess the bids. The government earlier announced the launch of a strengthened version of the "Smart Tender" platform in the second half of this year, following last November's devastating blaze at Wang Fuk Court that claimed 168 lives. Delivering the latest budget on Wednesday, Financial Secretary Paul Chan said the authorities are proposing to allocate HK$300 million to the URA for efforts to curb bid-rigging. "In addition to providing a more rigorous pre-qualified list, the URA will render professional advice and support for owners in engaging consultants and contractors," Chan said. "Besides, the URA will provide subsidies to encourage owners to utilise the paid services of 'Smart Tender'." Government sources said HK$200 million would be allocated as subsidises for homeowners using the platform to seek consultants and contractors for building maintenance works. The remaining HK$100 million, which serves as an initial fund, would be set aside to hire a team of up to 100 professionals to assist homeowners in making assessments, according to sources. Separately, Chan said the Development Bureau will receive HK$3 billion for a new subsidy scheme under Operation Building Bright 2.0, which supports homeowners whose buildings are mandated to conduct inspection and repair works. Another HK$1 billion will be earmarked to extend the Lift Modernisation Subsidy Scheme to fund property owners, the minister added. Edited by Thomas McAlinden