One of the principal functions of the Department of Development is to acquire, redevelop and resell abandoned and underutilized property in the City. Once the property has been redeveloped (environmental remediation, new utilities and roads, etc.) the Economic Development division markets the property and acts as the "listing broker." Selling brokers are invited to register prospects under one-party listing arrangements with the City. Because most of these properties are in Tax Incremental Financing (TIF) Districts in which most of the City's development costs will be recovered through the property taxes generated by the new development, prospective buyers are asked to submit preliminary site and building plans with their purchase offers so that staff can calculate the taxable value of the proposed development.