There are actually two FM channels in Rhinebeck. And the following story gets a bit convoluted.
There is the Family Radio translator on 105.7, with all of 27 watts in Rhinebeck. They moved to 105.7 from 102.5 several years ago.
And there is a channel reserved for a future full-power class A station... and that is 102.5. I believe it will be required to be a non-commercial outlet, and one of the interested parties is Sacred Heart University (WSHU) in Fairfield, Connecticut which runs a network of public radio stations in Connecticut and Long Island... and 102.5 in Rhinebeck would relay WSHU. No CP has been granted yet as far as I know.
Interestingly....
102.5 a few years back had been assigned to Rosendale (Ulster Co.) at the request of WFNP (SUNY New Paltz) so that WFNP could operated full time on 102.5 leaving 88.7 for WRHV (WMHT) to operated full time. Many applicants had shown interest the Rosendale frequency. (It was when the FCC assigned 102.5 to Rosendale that the Family Radio translator in Rhinebeck moved off 102.5 to their current 105.7 frequency.)
Since then, the FCC determined they could fit an additional station in the area on 98.9. And at the same time, they could fit 102.5 into Dutchess County. So, 98.9 is now allocated to Rosendale, and the 102.5 allocation was moved to Rhinebeck. Note that they could not fit 98.9 into Rhinebeck, because it was too close to "The Cat" (now Lite FM) WCTW-98.5 in Catskill.
At this point I'm not sure if WFNP (SUNY New Paltz) is going after 98.9 in Rosendale or 102.5 in Rhinebeck. And no-one knows when these two frequencies will actually become active. Nothing seems to be happening on this front.
Meanwhile, I have a question that has puzzled me for years. WFNP currently operates with the WRHV transmitter on 88.7 on Illinois Mountain in Highland. WRHV is licensed to Pougheepsie (as are a couple other stations on Illinois Mt.), but WFNP is licensed to Ronsedale. If WFNP is owned by SUNY New Paltz and its student body is centered on New Paltz, why is WFNP licensed to Rosendale? Why isn't WFNP currently licensed to New Paltz? This would be like Vassar College in Poughkeepsie's radio station (WVKR) being licensed to Clinton Corners. It doesn't make any sense, unless WFNP bought the 88.7 license from a previous station that had a connection to Rosendale. I would be curious to know how WFNP's being licensed to Rosendale came about.