Hmmm, it apparently gets more complicated, with environmental impact reports, etc. See:
Building a new tower or collocating an antenna on an existing structure requires compliance with the Commission’s rules for environmental review. These regulatory processes ensure that appropriate measures are taken to protect environmental and historic resources. A new tower construction...
www.fcc.gov
Anything above 200' requires lighting (used to be 170') so an antenna on top of a 200' tower would probably require lighting.
Ham radio and ham repeaters are declining. It's not what it used to be 50 years ago (I built one of the early repeaters in the Cincinnati area in 1971) and I was involved in local emergency communications back then.) You might have concerns about this club having the long term resources to support this project over it's life span....and what happens to it's legal responsibilities if it becomes defunct. Or how it would affect resale value of your property.
Even with experienced climbers, accidents happen. Make sure you are very thoroughly covered. There was one ham (W0AIH) who restored and erected commercial towers on his farm. He had something like 50 of them. He made a minor error one day and fell to his death from "only" 60 feet.
Assume it is Rohn tower, not Rohm. Rohn 25G is limited to 190'. Rohn 45G is much bigger and stronger and can go to 300'. At the 200 ft level it requires 5 sets of guys but each side can be anchored at a single point. See
http://www.rohnnet.com/files/2015_Rohn_Full_Catalog.pdf#page=48
FWIW, with the legal permitting and liability issues, I don't think I would allow this project with an outside organization. Myself, however, I wouldn't mind having my own 120 ft tower ;-)
Ken WA8JXM