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"Co-op"

From Jennifer Lai,
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Definition: A co-op is a housing community that is jointly owned and managed by those who live in it. Each member buys shares in this community, attends regular meetings to discuss maintenance, social events, or other community matters, and helps run the co-op. Members can participate in specific committees or be on the board.
Pronunciation: koh-ahp
Also Known As: co-operative, cooperative
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