Are Land Banks a new concept?

In some states, Land Bank’s have been enacted for the past decade - St. Louis created the first one in 1971. In Pennsylvania, Land Banks were just formed by Act 153 of 2012. The Westmoreland County Land Bank became the first Pennsylvanian land bank to acquire a formerly vacant and blighted property, demolish it, and sell it to a new owner.

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1. How is the Land Bank different than a Redevelopment Authority?
2. What are the main ways the Land Bank acquires properties?
3. What are some noteworthy projects the WCLB has taken on since inception?
4. Can the Land Bank help me demolish a blighted property in my neighborhood?
5. Does the Land Bank accept donated properties, and what would be some of the advantages for doing so?
6. Do you have to be a contractor to buy and rehab a Land Bank property?
7. Who helps fund the Land Bank?
8. Are Land Banks a new concept?
9. How do I purchase a Land Bank property?