If your community does not have an existing memorial, or the original memorial has been lost or damaged then you may wish to create a new memorial.
There are many things to consider when planning the construction of a new memorial. War Memorials Trust have some helpful advice on their New war memorials helpsheet
War Memorials Trust also have advice on successful fundraising on their Fundraising help sheet
If your proposed memorial is not specific to your community you may wish to consider the National Memorial Arboretum as a potential location for your memorial. For details on their memorial application process you can contact firstname.lastname@example.org