Starting up a local FM radio station?

I own a 125 foot tower on the outskirts of town, and would like to put it to use and promote the local music scene. I looked up a low-power FM license, and it said with the highest wattage transmitter, we could only get about a 3.5 mile radius for the station, which is about half the size we need. So I'm guessing we would need a full-power license. Where and how could I acquire one of these and what other materials/licensing/equipment would I need (just the absolute bare essentials) to get this radio station up and going?