My town has one. And I honestly wish it didn't. On one hand I can see why it's nice to have something like that: quick communication in case an emergency happens, you can tell people directly about events and such that might be happening around the area, you can get to know some of your neighbors if you so choose.

I don't like it because the one for my town is just your basic chatroom, except everyone knows everyone else lives within 10 miles or so of each other. It feels gross to me, and I'm not entirely sure why. It's populated by adults anywhere from their 20s to their 50s and 60s, as well as teenagers between the ages of 13-19. It just gives me the ick when I see someone in their 40s being very friendly to a teen in a chatroom.