Any Ideas on what to do for a Community Event?
In my neighborhood I am part of a organization that does an annual Thanksgiving dinner for the seniors in the community. We also do a Halloween Event for kids and an Easter Egg Hunt. If you write to your local grocery stores, a lot of times they will donate things for your event, especially if it's community based.
Have a big BBQ and a car wash, maybe a bake sale or something like that. You could even hold some sort of food drive for those less fortunate.
Maybe free food, old school activities and games or maybe even a community talent show.