(CBS) — The teachers union is taking a dim view, but the head of the Chicago Public Schools is talking about a new contract offer in hopes of heading off a strike threat, reports WBBM Political Editor Craig Dellimore.

Schools CEO Forrest Claypool told the latest school board meeting that officials have proposed a new Chicago Teachers Union contract that he says would require what he calls a short-term sacrifice by the teachers to shore-up pensions but provide a gradual salary increase over four years.

“It would help us in the short run to address this crisis and help us get through the school year without layoffs and without cuts to the classroom so we’re hopeful that we can work with our partners in labor over the next month or so to try to conclude an agreement that would do that,” Claypool said.

But CTU vice president Jesse Sharkey says it’s still a no-win choice for teachers. He says the board has some choices now: either work with them to improve conditions in the schools or face the second teachers strike in three years.