big data vs. smart data: the cook county land bank’s data-driven plan for land transactions
DESCRIPTION
In case you missed it, here is the recap on how the Cook County Land Bank plans on using data and analytical tools to help acquire, manage and transfer properties.TRANSCRIPT
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
Public Data
Relevant data is currently spread across dozens of
websites requiring enormous amounts of research.
Real Estate Transactions
Foreclosure &
Vacancy Rates
Zoning Laws
Population
Density
Crime
Transportation
Environmental2
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
3
Public Data
Cook County Regional Data Collaborative Through IHS
CCLBA CENTRALIZED DATABASE & ANALYTICS
TOOL
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
*
4Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
*
IHS
API
CCLBA
* Make it accessible to organizations like the CCLBA with a well-defined interface (“API”)5
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
6
*
analyze properties, neighborhoods & communities for
strategic planning/purchases
create a real-time property management system
track intermediate uses until disposition
track properties after disposition
All data can be viewed at parcel level, with built in community context
that is searchable, filterable and sortable.
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
*
Create “destabilization indicator” to track/predict where
properties are in relation to the foreclosure process:
o Stable
• Will then be able to determine what stability looks like
o At-Risk
• Will be able to determine what “at-risk” looks like
o Pre-Foreclosure
o Active Foreclosure
o Closed Foreclosure
o In-REO Ownership
7Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
*
Centralized Database to track & organize acquired
property information that includes:
o Property Inspections
• Roofing, Plumbing, Electrical, HVAC
oProperty photographs
oBuilding/zoning permits
oTitle/Deed history
oCurrent/past liens
oElected Officials/others
oFunding sources
oSpec development
oCommunity plans8
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
*o Web-based tool
• Can be accessed on smartphones, tablets, laptops
o Email alerts on all properties
o Hourly, daily, monthly reporting
o Tied to Cook County Regional Data Collaborative
o Real-time property updates
• Neighborhood Evaluations/Maps
• Transportation Evaluations/Maps
• Crime Data
• School Data
• Environmental Indicators
• Community Planning
• Seasonal Changes
9Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
10Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
11Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013
12
During the Fellowship (through August)
o Continue to work with DePaul on data aggregation.
o Provide basic mapping as board discusses land transaction
principals:
• Scavenger sale properties
• Known foreclosures/vacancies
• REO/HUD properties
Help advise creation of Data & Analytics Advisory Board
Begin to build CCLBA specific data tools
Create foundation code for systematic decision-making.
Assess & create analytical tool to measure success/failure.
Work with advisory board to find leading trends in historical data
to help inform land bank strategy.12
Cook County Land Bank Authority
Data & Analytics Committee
July 11, 2013