Big Data vs. Smart Data: The Cook County Land Bank’s Data-Driven plan for land transactions

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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.

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Big Data vs. Smart Data: The Cook County Land Bank’s Data-Driven plan for land transactions

  1. 1. Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  2. 2. 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 Environmental 2 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  3. 3. 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
  4. 4. * 4 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  5. 5. * 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. 6. 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
  7. 7. * 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 7 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  8. 8. * 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 plans 8 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  9. 9. * 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 9 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  10. 10. 10 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  11. 11. 11 Cook County Land Bank Authority Data & Analytics Committee July 11, 2013
  12. 12. 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

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