1 That's the rationale for our 2 recommendation for approval. Again, this is an 3 approval to go from 9.9, already 9.9 percent to 25 4 percent. I'll be happy to try to respond to any 5 questions anybody may have. 6 CHAIRWOMAN OLSZEWSKI: John, I'd 7 like to just because I'm the Chair today, I 8 Judy, you'll have your chance. 9 This I'm reading it to be, 10 basically, a financial, it's just, it's, basically, 11 a financial type of change and doesn't truly, 12 because of the agreement, because a REIT is 13 involved, doesn't seem to impact and, actually, by 14 IRS regulation and by contract between the parties, 15 can't deal with the day-to-day operations of the 16 hospital. So, are we, as the Health Planning 17 we're, basically, to treat this as a 18 financial operation? 19 MR. CALABRIA: Well, it is, 20 essentially, that. I think you're correct in that 21 and you're correct in your description of the IRS 22 and how Real Estate Investment Trusts and the IRS 23 handles that and so forth. But, this is a CN, 24 because we have, as I mentioned in the beginning, 25 you know, if anything less than 10 percent, even if
1 That's the rationale for our 2 recommendation for approval. Again, this is an 3 approval to go from 9.9, already 9.9 percent to 25 4 percent. I'll be happy to try to respond to any 5 questions anybody may have. 6 CHAIRWOMAN OLSZEWSKI: John, I'd 7 like to just because I'm the Chair today, I 8 Judy, you'll have your chance. 9 This I'm reading it to be, 10 basically, a financial, it's just, it's, basically, 11 a financial type of change and doesn't truly, 12 because of the agreement, because a REIT is 13 involved, doesn't seem to impact and, actually, by 14 IRS regulation and by contract between the parties, 15 can't deal with the day-to-day operations of the 16 hospital. So, are we, as the Health Planning 17 we're, basically, to treat this as a 18 financial operation? 19 MR. CALABRIA: Well, it is, 20 essentially, that. I think you're correct in that 21 and you're correct in your description of the IRS 22 and how Real Estate Investment Trusts and the IRS 23 handles that and so forth. But, this is a CN, 24 because we have, as I mentioned in the beginning, 25 you know, if anything less than 10 percent, even if