If the Borough or the Borough's Land Use Board permits the construction of multifamily or single family attached residential development consisting of five (5) or more net new dwelling units at a density of at least six (6) or more units per acre, that is "approvable" and "developable," as defined at N.J.A.C. 5:93-1.3, the Borough or the Borough's Land Use Board shall require that 20% (twenty percent) of the residential units be set aside for very-low-, low- and moderate-income households.

This requirement shall apply beginning with the effective date the Ordinance[1] creating this section was adopted to any multi-family or single-family detached and/or attached residential development, including the residential portion of a mixed use projects which consists of five (5) or more net new residential units at a density at least six (6) or more units per acre, whether permitted by a zoning amendment, a variance granted by the Borough's Land Use Board, or adoption of a Redevelopment Plan or amended Redevelopment Plan in areas in need of redevelopment or rehabilitation.

Nothing in this section precludes the Borough or the Borough's Land Use Board from imposing an affordable housing set aside in a development not required to have a set aside pursuant to this paragraph consistent with N.J.S.A. 52:27D-3 11(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 Borough's Settlement Agreement with FSHC, or in the Borough's Housing Element and Fair Share Plan, for which density and set aside standards shall be governed by the specific standards set forth therein.

Furthermore, this section shall not apply to developments containing four (4) or less net new dwelling units.

All subdivision and site plan approvals of qualifying residential developments shall be conditioned upon compliance with the provisions of this section.

Where a developer demolishes existing dwelling units and with the intent to construct new dwelling units on the same site, the provisions of this section shall apply only if the net number of new dwelling units is five (5) or more.

All affordable housing units built as required by this section will comply with the requirements of this chapter and any other applicable provisions of the Spring Lake Heights Municipal Code relating to affordable housing.

No subdivision shall be permitted or approved for the purpose of avoiding compliance with this requirement. For example, a developer cannot subdivide a project into two lots and then make each of them generate a number of units that is lower than the threshold.