This requirement shall apply beginning with the effective date of this section to any multifamily or single-family attached residential development, including the residential portion of a mixed-use project, which consists of five or more new residential units, whether permitted by a zoning amendment, a variance granted by the Planning Board, or adoption of a redevelopment plan or amended redevelopment plan in areas in need of redevelopment or rehabilitation.

For any such development for which the Borough's land use ordinances (e.g., zoning or an adopted redevelopment plan) already permitted residential development as of the effective date of Ordinance No. 2017-10, adopted August 14, 2017, this requirement shall only apply if the Borough permits an increase in the gross residential density to at least twice the permitted density as calculated based upon the zone district's permitted front setback, side setback, rear setback, principal building height, floor area ratio, and impervious coverage (excluding § 2637).

For inclusionary projects in which the low- and moderate-units are to be offered for sale, the set-aside percentage should be 20%, for projects in which the low- and moderate-income units are to be offered for rent, the set-aside percentage should be 15%.

The developer shall provide that half of the low- and moderate-income units constructed be affordable by low-income households and that the remaining half be affordable by moderate-income households. At least 13% of all restricted units shall be very low-income units (affordable to a household earning 30% or less of median income). The very low-income units shall be counted as part of the required number of low-income units within the development.

Subdivision and site plan approval shall be denied by the Board unless the developer complies with the requirements to provide low- and moderate-income housing pursuant to the provisions of this section. A property shall not be permitted to be subdivided so as to avoid meeting this requirement. The Board may impose any reasonable conditions to ensure such compliance.

Nothing in this subsection precludes the Borough from imposing an affordable housing set-aside in a development not required to have a set-aside pursuant to this subsection consistent with N.J.S.A. 52:27D-311(h) and other applicable law.

This requirement does not create any entitlement for a property owner or applicant for a zoning amendment, variance, or adoption of a redevelopment plan or amended redevelopment plan in areas in need of redevelopment or rehabilitation, or for approval of any particular proposed project.

This requirement does not apply to any sites or specific zones otherwise identified in the Fair Share Plan, for which density and set-aside standards shall be governed by the specific standards set forth therein.