Wachovia Community Development Enterprises (“Wachovia CDE”) will provide debt and equity-like capital at significantly better-than-market terms to businesses in targeted low-income communities, both directly and through other CDEs and CDFIs. Investments will finance the construction, rehabilitation and operation of for-sale housing, office, retail, industrial, mixed-use and community facilities and businesses. Target projects will include “green” buildings, whose initial costs of construction can be higher than conventional buildings, and projects whose costs have escalated because of localized shortages of building supplies and labor, as can be expected in the Hurricane Katrina or other disaster areas.