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Estate Planning in Times of Change: Part 1

With a new presidential administration onboarding, the estate planning landscape is shifting beneath our feet. If you’ve been waiting for the “right time” to create or update your estate plan, there’s no time like the present, which presents opportunities and urgencies that demand attention. With anticipated changes on the horizon and favorable conditions that won’t last forever, understanding your options has never been more critical.

In this two-part series, we’ll explore what we know for certain, what remains unclear, and most importantly – what you can do about it. Next week, we’ll look at strategies for protecting loved ones who may be especially vulnerable in the coming years. But this week, we focus on taxes, interest rates, and asset protection. Let’s dive in.

What We Know About Taxes and Interest Rates

Here’s what we know: The current estate planning environment offers some significant advantages that won’t last forever. The estate tax exemption for 2024 sits at $13.61 million per person ($27.22 million for married couples) – the highest it’s ever been. That number increases in 2025 to $13.99 million per person (or $27.98 million for married couples). You can transfer substantial wealth to your loved ones without triggering federal estate taxes. This creates a once-in-a-lifetime opportunity for many families to secure their legacy and protect their assets from future estate tax exposure.

However, we also know that this generous exemption is scheduled to sunset on December 31, 2025. Without new legislation, the exemption amount will drop significantly – to approximately $7 million – on January 1, 2026. This means that gifting assets out of your estate in 2025 could give you a $7 million opportunity to move assets that otherwise could be subject to estate tax rates that have been as high as in the past. When you are considering whether to gift assets out of your estate in 2025, remember to consider:

1. Not just the current value of your assets, but what they will grow to over your lifetime;

2. You can gift assets in ways that allow you to maintain aspects of control and even use. Call me and let’s discuss it.

3. The earlier in the year you get started on your considerations, the less expensive your planning will be, and the more likely we can get it done in time, so if you are likely to have an estate over $7 million in value at the time of your death, call me immediately to schedule.

Pausing here momentarily, I want to point out something important: Your estate may be larger than you think. For tax purposes, your estate includes your home’s fair market value (minus the mortgage) and any other real estate you own, life insurance policies, retirement accounts, investment accounts, and other assets. So, while you may have assets that total less than the $13.99 million exemption in 2025, you very well could be affected by the 2026 exemption. If you want to know for sure, I can help. Read on to find out how to book a call with me.

Additionally, 2024 gift tax laws allow you to give up to $17,000 per person annually without triggering any tax consequences. For married couples, you could give up to $34,000 to each child, grandchild, or anyone else to protect assets and pass them to your loved ones without tax liability. This is separate from the lifetime estate tax exemption and represents an additional tool for reducing your taxable estate. In 2025, the gift tax exclusion will increase to $19,000 per person.

Interest rates are another crucial factor. After a period of historic high interest rates intended to curb inflation, rates have finally begun to decline (though at the time of publishing, rates are fluctuating). Lower interest rates could make specific estate planning strategies particularly effective, especially if you want to transfer wealth to future generations. To learn more, book a call with me below.

Now that you’re clear on the current state of taxes, interest rates, and asset protection, let’s shift gears and discuss what’s uncertain.

What Remains Uncertain

We can anticipate changes with the new presidential administration and legislative session, but what those changes are is unclear. Different administrations often have vastly different approaches to tax policy, which can significantly impact estate planning strategies.

Here’s what we don’t know:

  • Whether new legislation will freeze the current exemption and stop the estate tax exemption from dropping in 2026
  • How long interest rates will continue to decline
  • What changes might come to the gift tax exclusion and other wealth transfer tools
  • Whether state-level estate taxes might change in response to federal shifts
  • How treatment of retirement accounts and inherited IRAs might evolve
  • Whether new restrictions might be placed on currently available planning strategies

With all this uncertainty, you may feel tempted to sit back and see what happens. However, waiting could mean missing valuable opportunities to protect your family’s financial future. History shows us that when tax laws change, they often do so quickly and with limited opportunities to act before new rules take effect. So, the time to at least have a conversation and start the discussion is now.

Why You Need to Take Action Immediately

Combining what we know and what remains uncertain creates a clear imperative: you should take immediate action. Here’s why:

Current Benefits: Today’s high exemption amounts and declining interest rates create optimal conditions for transferring wealth. By acting now, you can lock in these advantages before they potentially disappear. Many of the strategies available today might be limited or eliminated in the future.

Future Protection: I help you create a properly structured Life & Legacy Plan that can help shield your assets from future tax changes. While we can’t predict what changes will come, we can build flexibility into your Life & Legacy Plan to adapt to various scenarios. This might include using specialized trusts, family-limited partnerships, or other advanced planning tools that can provide long-term benefits regardless of how tax laws change.

Peace of Mind: Beyond tax considerations, creating a Life & Legacy Plan ensures your wishes will be honored and your loved ones protected, regardless of what changes come at the federal or state level. This includes ensuring your healthcare directives are current, your power of attorney designations are appropriate, and your asset protection strategies are robust. I also help you keep your plan updated over time so your plan always works – no matter who’s in office.

Family Security: The actual value of estate planning goes far beyond tax savings. It’s about ensuring your family has the resources and guidance they need when you can no longer provide them. This includes protecting your children’s inheritance, providing for family members with special needs, and ensuring your charitable goals are met.

Speaking of family members with special needs, check back next week. In Part 2 of this series, we’ll explore specific strategies for protecting vulnerable family members and preserving family harmony through times of change. We’ll also discuss planning considerations for LGBTQ+ families, families with children who have special needs, and other situations requiring special attention in today’s environment.

Your Next Steps

I understand that these changes and uncertainties can feel overwhelming. That’s why I offer a Life & Legacy Planning® Session designed to help you understand exactly how these current conditions and upcoming changes might affect your family.

Don’t wait until the last minute to act. While tax considerations are important, the real value of estate planning lies in protecting your family and preserving your legacy.

Take the first step toward securing your family’s future by booking a Life & Legacy Planning Session.

Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

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2nd Annual Volunteer & Community Engagement Summit Coming Jan. 25

Camas, WA — The Downtown Camas Association is excited to host the 2025 Volunteer & Community Engagement Summit. This event aims to connect local people with nonprofit organizations serving Camas and Washougal to build connections that strengthen everyone involved. Individuals and families can explore service opportunities, collect information about local programs, and learn more about all the important work performed by nonprofits in their community. The event will take place on Saturday, January 25th, from 11am-3pm, inside the Fuel Medical lobby located at 314 NE Birch Street in Downtown Camas.

Attendees interested in volunteerism will be able to meet with 14 unique local organizations. It will be an open house format, where people will leisurely walk through and connect with the organizations at their own pace. The goal of the event is to foster meaningful connections and help make engagement opportunities easier between organizations and potential volunteers. People of all ages and backgrounds are encouraged to attend. Employers that offer corporate volunteer initiatives are also welcome. Whether you’re looking for a volunteer opportunity for a few hours a month, or a longer-term commitment, you will find an organization that fits your interests. From supporting education and literacy initiatives, bolstering local food access, promoting environmental sustainability and community development, each organization offers unique opportunities for individuals to get involved and make a difference.

Participating organizations at the summit include:

– 100 Women Who Care Clark County

– Camas Farmer’s Market

– Camas Ivy League

– Camas Lion’s Club

– Camas Washougal Community Chest

– Downtown Camas Association

– EatWell Camas Community Garden

– Impact-Camas Washougal

– Lacamas Watershed Council

– LiveWell Camas

– Read NW

– Refuel Washougal

– Rotary Club of Camas-Washougal

– Unite! Washougal

“We are thrilled to bring this event back for a second year,” said Leah Nichelson, Event and Special Project Manager for the Downtown Camas Association. “We often hear that people want to volunteer but don’t have time to research which organization is right for them. This event is a low-pressure way to meet so many great nonprofits under one roof! You can find the group doing the work that you’re most passionate about. It’s also a great opportunity for people new to the area to connect and start building a community for themselves.”

Complimentary refreshments will be provided by Cedar Street Bagel Co.

New residents to the area are encouraged to attend and can pick up a Welcome Packet from the Downtown Camas Association, with information about Downtown and a special gift from Sweet Intention Gift Boutique (while supplies last).

Attendees can also explore incredible deals and discounts at participating Downtown Camas merchants during the Once in a Blue Moon Sale. Happening concurrently with the event, this sale offers the perfect opportunity to shop, save and support local businesses.

This event is organized and hosted by the Downtown Camas Association (DCA). The DCA is a 501c3 nonprofit that works year-round to strengthen and promote Downtown Camas through partnerships, events, beautification and historic preservation projects, public art engagement, economic development, advocacy, and tourism functions. For information on this and other DCA events, downtowncamas.com/events-and-festivals/. Sign up for the weekly Downtown Camas Association newsletter at https://lp.constantcontactpages.com/sl/peBo4oV

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Gluesenkamp Perez’s PORT Act Signed Into Law, Along w/ Flooding Assistance

WASHINGTON, D.C. – Last week, the Water Resources Development Act of 2024 (WRDA) was signed into law by the President, including assistance for flooding in Wahkiakum County, sediment control on the Columbia and Cowlitz Rivers, and the provisions of Rep. Marie Gluesenkamp Perez’s (WA-03) PORT Act to approve a land conveyance to the Port of Skamania for local economic development. The Congresswoman voted with her bipartisan colleagues in the House to pass the legislation in December, and it passed the Senate later in the month.

In January, Rep. Gluesenkamp Perez testified in front of the House Transportation and Infrastructure Committee to fight for the inclusion of these long-awaited priorities in this year’s WRDA. Video of her testimony can be found here.

The legislation will approve the Port of Skamania’s request for a 1.6-acre plot of unused U.S. Army Corps of Engineers land, which the port filed over 40 years ago and requires Congressional authorization.

The WRDA will also require the U.S. Army Corps of Engineers to assess the causes of fine sediment accumulation that causes flooding in Rosburg and Grays River, as well as potential solutions to manage flood risk. When flooding occurs on the Grays River, it cuts off access to roughly 500 people, often for more than two days at a time. Within hours, the flooding limits vital emergency services, business operations, and school transportation, leaving behind sediment that can be dangerous and time consuming to remove. Last December, the U.S. Coast Guard rescued five people trapped in flooding conditions near Rosburg.

Additionally, the legislation will authorize the U.S. Army Corps of Engineers to conduct a feasibility study related to impacts of sediment accumulation on navigation channels in the Cowlitz and Columbia Rivers. Currently, the Mt. St. Helens Sediment Control Project only allows dredging for flood risk management.

“Living in unincorporated Skamania County, I’ve seen firsthand how our community has had to endure painful cuts to vital services due to a lack of developable land and our funding being tied to natural resources like timber. This 1.6-acre plot of land is the kind of thing that can make an incredible difference in empowering our rural community. The port’s typewritten request for this land was filed before I was born, and it was unfortunately ignored by Congress for 40 years,”said Rep. Gluesenkamp Perez. “Rosburg and Grays River know the impacts of flooding all too well – and it’s only been getting worse. These floods are dangerous, leave behind debris, and cut off critical services, so our federal government needs to take urgent action to find solutions. We should also be supporting smooth, reliable navigation on Southwest Washington’s rivers. Our rural communities deserve an attentiveness to their needs – and I’m glad we could get these priorities signed into law after Congress has long failed to act.”

“The port is a key economic driver in Skamania County where just 0.4% of land is available for commercial development due to federal land-use protections. Because of the property’s location outside of these land-use restrictions this is an unheard-of chance to generate new economic development activity in a community with so many barriers preventing it,” said Pat Albaugh, Executive Director of the Port of Skamania County. “We can’t thank the Congresswoman enough for her leadership to finally overcome the bureaucratic roadblocks the port has faced for decades and put us on a road to success.”

The Water Resources Development Act is a biannual bill required for the authorization of U.S. Army Corps of Engineers and Bureau of Reclamation projects, including to improve navigable channels, reduce flood and storm damage, and restore aquatic ecosystems.

Rep. Gluesenkamp Perez helped secure the transfer of the remaining 23.4-acres of the Wind River Administrative Site to Skamania County, which was finalized in October. She is also fighting to prevent the Secure Rural Schools program from expiring, as it serves as a lifeline for rural schools and infrastructure and accounts for 5.1 percent of Skamania County’s budget.

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Building Industry Association Installs Alexa Lee as 2025 President  

Vancouver, WA – The Building Industry Association of Clark County (BIA) installed Alexa Lee of GRO as its president. Lee is notably the second female in this role in the history of the association, and her installation marks a significant milestone for both the organization and the local building industry. 

 “We are thrilled to have Alexa as the new BIA president. Having worked alongside her, I know the BIA is in great hands,” said Immediate Past President Chuck Neibert, co-owner of Affinity Homes LLC. “Alexa understands the balance and strength it takes to lead in this role, and I’m confident her leadership will guide the organization to continued success.” 

Lee, who serves as sales manager at GRO, outlined a vision for 2025 centered on creating a more connected and inclusive community within the BIA. She plans to engage members personally, expand programs like Build Better, and strengthen efforts to diversify the membership base. Her goals also include building on the foundation established by past leadership while adapting to the industry’s evolving needs and finding innovative ways to keep members engaged. 

“It’s an incredible honor to serve as the first female president of the BIA in 27 years,” said Alexa Lee, Sales Manager at GRO and 2025 BIA President. “This milestone reflects the progress our industry has made with nearly 11 percent of construction jobs held by women.”  

Lee emphasized her commitment to connecting personally with members, expanding programs and addressing barriers to participation in the association and its initiatives. 

“I hope to inspire not only our current members but also the next generation of leaders to see the building industry as a place where they can thrive,” Lee said. “Together, we’ll continue building a stronger, more connected community that supports our members’ success.”  

By reinforcing key programs, adapting strategies to meet evolving member needs, and fostering a collaborative approach to growth, Lee aims to position the BIA for a successful and impactful year ahead. 

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Camas City Council Member Bonnie Carter to Resign from Position Feb. 3

Camas, WA – Camas City Council Member Bonnie Carter announced that she will be stepping down as the Ward 2 Position 1 representative, effective February 3, 2025.     

Carter informed staff and Council of her decision at the Jan. 6, Council Meeting. Carter was sworn into office Feb. 2, 2015, and was then elected to her first full-term in November of 2015. Carter’s current term was set to expire, Dec. 31, 2027.

“Ten years is a solid run,” said Carter. “I wanted to help Mayor Hogan with a few things and we got two ballots to the voters: Strategic Plan and Vision 2045 is wrapping up so it’s a good time for another person to step forward and add their perspective to the mix. Steve retired in April and this allows me a little more time to spend with him so there’s that silver lining.”

A Camas resident since 2002, Carter has been a regular volunteer in the school district and the community, while also serving as treasurer for the Camas Educational Foundation.

“We’re very sad to see Bonnie leave, but we certainly appreciate the 10 years she has dedicated to our City,” said Camas Mayor Steve Hogan. “I know we’ll have big shoes to fill, but we wish her the best on her future endeavors and thank her for her service,” he said.

She is the Administrative Secretary at Skyridge Middle School., and was recently appointed to the following committees for 2025:

  • Council Policies and Procedures Committee Representative 
  • Finance Committee Liaison 
  • Homelessness Strategy Committee Liaison
  • Joint Policy Advisory Committee (JPAC) and Regional Fire Authority Committee Representative 
  • Library Board of Trustees Liaison
  • Port of Camas-Washougal Liaison

Carter also served as Mayor Pro Tem in 2024, 2019 and first half of 2021.

Officials with the City are determining the timeline for the application process and will be providing that information in the coming weeks. Once defined, the City Council will discuss the process of filling the Council seat vacancy.

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Celebrating Dual Athlete Chase McGee and His Supportive Family

One of the joys of covering local sports is seeing kids grow up and one of the common patterns of successful student-athletes is a supportive family.

Camas WR Chase McGee is a very successful multi-sport athlete because of his own talents and work ethic, but as a young boy he always attended the sports events of his older sisters, Irelyne McGee and Shea McGee, who are champion athletes in diving and gymnastics.

I was fortunate to cover their swimming/diving and gymnastic events over many years and got to know the whole McGee family. Chase was a great kid who grew into an amazing young man!

I’m sure he will also do well with pole vaulting this coming season.

Happy New Year!

Sincerely,

Ernie Geigenmiller
Editor & Publisher
Lacamas Magazine

McGee
McGee
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7 Beauty Gifts to Get Your Loved One This Holiday

If you have someone in your life who likes to focus on self-care and beauty, there are several top gifts that you may want to consider this holiday season. Let’s look at some items that are sure to make your loved one smile.

1. Make Up Kits

While your loved one may already have different makeup products, it’s so nice to receive a makeup kit that is a collection of different colors and products. You can customize this gift according to skin tone, age, style, and more. These kits usually include items like eyeshadows in different colors, blush, eyeliner, lip color, etc.

2. Skin Care Collections

Skin care items can be expensive, making it difficult for most people to invest in a whole line of products. Invest in a collection that tailors to your loved one’s skin type. A collection may include things like a cleanser, toner, moisturizer, sunscreen, spot treatment, or anti-aging serum. You can often find holiday deals on these skin care collections, allowing you to get a lot of products included at an affordable price point.

3. Self-Care Subscriptions

There are all kinds of subscription boxes available that help your loved one prioritize self-care and beauty. Each month they will receive a box that includes things like lotions, makeup, haircare items, etc. These boxes often include other fun items like snacks, slippers, fuzzy socks, and so on. Some subscription companies will even allow your loved one to choose what kind of themed box they want to receive each month.

4. Hair Care Products

Don’t forget about hair care in regard to beauty. Help your loved one elevate their hair care game by expanding their product lineup away from just the traditional shampoo and conditioner set. Choose products that are made specifically for their type of hair. There are products that are designed for curly hair, oily hair, dry hair, etc. You can also include add-on items like hair masks and scalp treatments. Consider making a whole basket of hair care items, including combs, brushes, hair wraps, and styling tools.

5. Fragrance Sets

It’s nice to have one specific fragrance that is your favorite, but there are all kinds of scents that you can choose from. A fragrance set makes the perfect gift. Your loved one can choose their scent based on the season, where they’re going, and their personal preferences.

6. Makeup Advent Calendars

Advent calendars are becoming quite elaborate. You can find some unique makeup calendars that provide a new lipstick or eye shadow each day leading up to Christmas. These advent calendars usually provide small sizes of products that your loved one can purchase in a large size if they really like it. It’s a great way to try different products and colors without spending a ton of money.

7. Lipstick Collections

If you know someone who loves to match their lip color with their outfit of the day, a lipstick gift collection is the perfect idea. They’ll receive several different hues to try, often with a matching bag or box to keep them in. You may also be able to find lip collections that include products to hydrate and exfoliate the lips in between using color.

Tis the season for shopping, so head to your local beauty supply store or check online for some unique and fun beauty gifts.

By: Katherine Robinson, a writer for Wholesale Beauty

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Washougal School Board Seeks Community Input for Superintendent Search

Washougal, WA — The Washougal School District Board of Directors is seeking community input about the skills and professional experiences that would help them identify a candidate who can successfully lead the district and make progress toward our shared goals. 

The board is committed to ensuring strong and effective leadership for our schools and community.  “We would like parents, community members, teachers, and even our students to help us make this very important decision,” Board President Sadie McKenzie said.

Community members canshare feedback through an online survey, which is open through January 7, 2025, or by attending an in-person listening opportunity on December 17, 2024, from 5-7 pm at the Excelsior Building, 1401 39th Street, Washougal. Information about the in-person event and the link to the superintendent search survey are on the district website: https://www.washougal.k12.wa.us/superintendent-search-process/

The board will use the feedback to decide next steps in the search process, including consideration of Interim Superintendent Aaron Hansen as a candidate. 

The board will share updates with the community through the district website and in messages to district families and staff. 

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Camas QB Davidson Named Gatorade WA Football Player of the Year

CHICAGO, IL — In its 40th year of honoring the nation’s most elite high school athletes, Gatorade today announced Jake Davidson of Camas High School is the 2024-25 Gatorade Washington Football Player of the Year. Davidson is the third Gatorade Washington Football Player of the Year to be chosen from Camas High School.

Gatorade Player of the Year is the top honor in high school sports, celebrating the nation’s best high school athletes for their success on the field, in the classroom and in the community. The award distinguishes Davidson as Washington’s best high school football player and he joins an impressive group of alumni that spans CEOs, coaches and star athletes such as Emmitt Smith (1986-87, Escambia High School, Fl.), Peyton Manning (1993-94, Isidore Newman School, La.) and DJ Lagway (2023-24, Willis High School, Texas).

At the time of his selection, the 6-foot-2, 185-pound senior quarterback had led the Papermakers to a 13-0 record and a berth in the Class 4A state championship game. Davidson connected on 201-of-290 passes for 3,440 yards and 50 touchdowns through 13 games. A two-time First Team All-Conference selection, Davidson threw at least three TD passes in 11 of his starts. He had also rushed for five scores.

Davidson has volunteered locally as a youth football coach. 

“I was impressed with Davidson’s ability to keep plays alive and make plays with his feet,” said Steve Pyne, head coach of Union High School. “He makes a significant impact on their success. He has solid talent around him, but he makes them better.”

Davidson has maintained a 3.30 GPA in the classroom. He remains undecided upon a collegiate destination. The Gatorade Player of the Year program annually recognizes one winner in the District of Columbia and each of the 50 states across 12 different high school sports – football, girls volleyball, boys and girls cross country, boys and girls basketball, boys and girls soccer, baseball, softball, and boys and girls track & field – and awards one National Player of the Year in each sport. The selection process is administered by the Gatorade Player of the Year Selection Committee, which leverages experts including coaches, scouts, media and others as sources to help evaluate and determine the state winners in each sport.

Davidson joins recent Gatorade Washington Football Players of the Year Kolton Matson (2023-24, Lake Stevens High School), Jayden Limar (2022-23, Lake Stevens High School), Josh Wood (2021-22, Graham-Kapowsin High School) and Sam Huard (2020-21, Kennedy Catholic High School), among the state’s list of former award winners.

As part of Gatorade’s commitment to breaking down barriers in sport, every Player of the Year also receives a grant to donate to a social impact partner. To date, the Gatorade Player of the Year program has provided more than $5.6 million in grants to winners across more than 2,000 organizations.

To learn more about the Gatorade Player of the Year program, check out past winners or to nominate student-athletes, visit playeroftheyear.gatorade.com or follow us on social media on Instagram at instagram.com/Gatorade, Facebook at facebook.com/GatoradePOY and X(Twitter) at x.com/Gatorade.

Davidson
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City of Camas Looking for Input on Vision for 5-Year Strategic Plan

Camas, WA — The City of Camas is asking for resident feedback when it comes to the City’s next 5 -year strategic plan via a survey on Engage Camas.

Interested community members can visit https://engagecamas.com/strategic-plan and provide their responses on what they think the City should focus on over the next 5 years in terms of vision, values and priorities, which will help guide City operations and decision-making.

Through a robust engagement process the City aims to foster inclusive and meaningful participation from both internal city staff as well as external community members and residents, ensuring all voices have access to provide input in shaping the future priorities for the City.

Anonymous feedback received through this survey will be shared with members of the Community Advisory Committee to inform recommendations and the development of the strategic plan. The CAC is composed of members representing a diverse array of professional backgrounds, lived experience and insights as to the future of the City of Camas.

More information is available at www.engagecamas.com

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