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From:Jeff Schabowski <br />To:GRP-City Council <br />Subject:A Struggling Landlord"s Statement of Profit (Loss) <br />Date:Monday, July 6, 2026 4:42:29 PM <br />Some people who received this message don't often get email from jeffschabowski@gmail.com. Learn why this isimportant <br />Dear Redwood City Mayor, Council and City Staff, <br />REGARDING SUPPLEMENTAL ELECTIONS CODE SECTION 9212 REPORT ON IMPACTS <br />OF ADDITIONAL RENT CONTROL AND JUST CAUSE EVICTIONS. <br /> <br />I own a condominium rental property in the 1122 Whipple Avenue building. The <br />unit is 930 sq ft., 2 bedrooms, 1 bath. I purchased the unit in 2021 and rented it to a <br />couple with a minor child for $ 2,300 monthly for one year then increased rent to <br />2,500 in 2022. The rent is still $2,500. Here is a summary of my income and <br />expenses (Positive amounts are income, negative amounts are out of pocket <br />expenses): <br />Monthly rent: $2,500 <br />Monthly mortgage: -$2,153 <br />Monthly HOA dues -$800 <br />Monthly loss: -$453 <br />Monthly loss for one year -$9,253 (monthly loss * 12) <br />Add annual insurance: -$3,107 <br />Add annual property tax: -$7,813 <br />Total annual loss: -$17,066 <br />Now suppose I want to sell or move into the unit. Under the Faith in Action <br />proposed ordinance, I would have to pay my tenants four months’ rent at $2,500 <br />plus pay them $12,000 in relocation fees for a total of $22,000. <br />I do not have $22,000 to pay my tenants nor do I think it is fair for the City to foot <br />the $12,000 out of their legal or general funds. My question is will Faith In Action be <br />willing to cover the $12,000 they are demanding for my tenant’s relocation? I think <br />that is only fair as Faith in Action operates under the guise of a religious <br />organization and is funded by the Ford Foundation and George Soros’ Open Society <br />Foundation, both of whom possess more wealth than the City of Redwood City and <br />the collective land owners of Redwood City properties will ever own. <br />Respectfully Submitted, <br />Jeffery Schabowski <br />Lifelong Redwood City Resident and Struggling Landlord.