- 37 -
taking into account the further increase attributable to the
month ending April 30, 1983)10 which when added to the
aforementioned increase of $745,000 related to petitioner's real
estate produces a net increase of $1,543,000. Finally, we note
that, in addition to the likelihood of increased values for the
hospital complex land and the unimproved real estate, see supra
notes 7 and 8, we have not sought to include the values, if any,
attaching to the certificate of need for an additional 31 beds,
the enhanced value, if any, of petitioner, as a long-term
psychiatric hospital facility, attaching to the exemption of
psychiatric hospitals from the anticipated changes in Medicare
reimbursement standards which occurred later in 1983 but stemmed
from legislation antedating the May 1983 sale, or to the fact
that the hospital was resold in 1985 for some $29 million. We
also find it unnecessary to attempt to consider the impact of a
prohibition against sale for a 2-year period, which was present
10 Adjusted Net Worth (in thousands):
Adjusted Increase
Date Net Worth Over 9/30/81
9/30/81 $4,290
9/30/82 4,428 $138
3/31/83 5,088 798
4/30/83 5,225 935
Page: Previous 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 NextLast modified: May 25, 2011