The Community-Owned Transit Improvement based on Local Business Project Model

Abstract

The community-owned transit improvement program aims to study the socio-economic aspects of developing community-owned enterprises. It is based on the context of developmental work of a selected case in Lat Phrao communities. Developing a sustainable program will not only be beneficial to achieving accessible transportation system, but could also be beneficial in terms of community development and local economy improvement as well. This study utilized the financial feasibility analysis tools for the decision-making process like benefit-cost ratio (BCR), payback period, net present value (NPV), and internal rate of return (IRR) to analyze each project. The result of this research showed that Lat Phrao communities' return on investment is faster and better after the communities' expression of interest in long term investment with emphasis on IRR result. There are several alternatives for transferring rights, which includes: 1) transferring rights between lands of a single owner, and 2) transferring rights among the different landowners. Additionally, within each of these alternatives, there can also be 2 types of transactions: 1) private transaction and 2) normal transaction through authorized facilitator.