I am a local radio broadcaster.
While I honestly wish anyone with a legitimate FCC application pending the best in their endeavors, let me state for the record...that the Federal Communications Commission's database says there is no such application pending for this frequency. Bill Spry tells us there is only one frequency available in the Dayton area...it's a translator frequency for an existing station and he holds the license.
With Richmond at 101.3 and Springfield at 101.7, there is no chance that you can obtain a freqency legally at any power level at 101.5.
There are no frequencies left in Dayton unless your intention is to be a radio pirate. And, if that's the case, rest assurred local licensed operators will turn you in to the FCC upon signing on the air.