This section applies to any residential project :that provides 20 or more dwelling units; that receives:a major public subsidy; or a significant land use authorization; that is newly constructed, wholly renovated, or converted from a non-residential building; and the cost of the construction or conversion exceeds $60,000 per rental unit. In every residential project subject to this section, at least 5% of all dwelling units for rent must be affordable units to low income households. In every residential project subject to this section, at least 5% of all dwelling units for rent must be affordable units to very low income households. In every residential project where the developer is offered an additional subsidy or offered the opportunity to apply for an additional subsidy for affordable units for very low income or extremely low income households, up to an additional 5% of dwelling units for rent must be affordable to very low and extremely low income households upon an award of the additional subsidy. If the City negotiates or a residential project promises to provide a greater percentage of affordability or longer time period of affordability, that more restrictive provision governs over the requirements of this subtitle to the extent of any conflict. The provisions of this section do not apply to:dormitories, as defined in <cite data-path="32|1|3|1-305|(g)">§ 1-305(g)</cite> of the <cite data-doc="City of Balt., Md., Ord. 24-308" data-path="32">Zoning Code</cite>; fraternity or sorority houses, as defined in <cite data-path="32|1|3|1-306|(p)">§ 1-306(p)</cite> of the <cite data-doc="City of Balt., Md., Ord. 24-308" data-path="32">Zoning Code</cite>; residential-care facilities, as defined in <cite data-path="32|1|3|1-312|(p)">§ 1-312(p)</cite> of the <cite data-doc="City of Balt., Md., Ord. 24-308" data-path="32">Zoning Code</cite>; or a residential project that is designed for, marketed to, and leased to students enrolled in accredited educational institutions located in Baltimore City, also known as “student housing”. Ord. 07-474