In this paper, an economic dispatch (ED) problem for a community microgrid is studied. In this microgrid, each agent pursues an ED for its personal resources. In addition, each agent is capable of trading electricity with other agents through a local energy market. In this paper, an energy market operating in the presence of the grid is introduced. The proposed market is mainly developed for an experimental community microgrid at the Missouri University of Science and Technology, Rolla, MO, USA, and can be applied to other distribution level microgrids. To develop the algorithm, first, the microgrid is modeled and a dynamic ED algorithm for each agent is developed. Afterwards, an algorithm for handling the market is introduced. Lastly, simulation results are provided to demonstrate the proposed community market, and show the effectiveness of the market in reducing the operation costs of passive and active agents.