Hello, I see some conflicts here...

If this is a LPTV, is it really a commercial venture..? LPFM stations
HAVE to be non-commercial & held by a non profit (501-c-3)...Does the
same apply to LPTV..?

IF this is a "very rich community" then why are you here, instead of
chasing down the rich people in the listening area to invest..?

Making all investors board members can be not only problematic, but non
representational of the listenership as well.

I could really skew the politics of the board by simply giving $20.00
to 20 friends to invest, and thus they would be on the board. Large
boards can be just as much a nightmare as an undersized board...

The facts are in: (smart) people are wanting to see more COMMUNITY
radio stations...this means non profit with an ELECTED board of
directors, and with diverse programming...

I suspect the same desire carries over to the TV viewing public...

If you want to serve a special interest (rich people who have plenty of
resources) then THEY should pay the freight for a commercial TV license
because it sounds to me that you want to narrowcast to a select segment
of the population, instead of broadcast to all.

73's KE6VGA