If the Township or a Township Land Use Board permits the construction of multifamily or single-family attached residential development that is "approvable" and "developable," as defined at N.J.A.C. 5:93-1.3, the Township or the Township's Land Use Board shall require that an appropriate percentage of the residential units be set aside for low- and moderate-income households. This requirement shall apply beginning with the effective date the ordinance creating this section was adopted 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 Township's Land Use 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 Township's land use ordinances (e.g., zoning or on adopted redevelopment plan) in effect as of the effective date the ordinance creating this section was adopted already permitted residential development at a specific density explicitly set forth in the Township's land use ordinances, this requirement shall only apply if the Township permits an increase in the permitted (and approvable and developable) residential density to at least twice that already permitted as of the effective date of the ordinance creating this section was adopted. Nothing in this subsection precludes the Township or the Township's Land Use Board from imposing an affordable housing set-aside in a development not requited to have a set-aside pursuant to the paragraph consistent with N.J.S.A. 52:27D-311(h) and other applicable law. For inclusionary projects in which the low and moderate units are to be offered for sale, the appropriate set-aside percentage is 20%; for projects in which the low- and moderate-income units are to be offered for rent, the appropriate set-aside percentage is 15%. 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 Township's Settlement Agreement with FSHC dated September 5, 2017, or in the Township's Housing Element and Fair Share Plan, adopted by the Township Planning Board on March 13, 2018, and endorsed by the Township Council on March 20, 2018, for which density and set-aside standards shall be governed by the specific standards set forth therein.