This might be a naive question which you've probably been asked plenty of times before so I'm sorry of I'm being tedious here.
Is it really worth the effort and expense to have a real radio station these days? Wouldn't an online stream be just as effective if it was promoted well locally?
A few years ago a friend who was very much involved in a local community group which I was also somewhat interested in asked me if I wanted to help build a low power FM station. He asked me because I know something about radio since I was into ham radio etc.
I was skeptical that it was worth the effort. The nerdy part of me would have enjoyed doing it but I couldn't help thinking that an online stream would probably reach as many people without the hassle and expensive of a transmitter, antenna etc.
I know it's a toss up. Every car has an FM radio. Not everyone is going to have a phone plugged in to Android Auto or Apple Car Play and have a good data plan and have a solid connection.
I also pointed out that the technical effort is probably the small part compared to producing interesting content.