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On Tuesday, Chicago Mayor Rahm Emanuel and Chicago Transit Authority President Forrest Claypool announced a tentative, one-year agreement with the International Association of Bridge, Structural, Ornamental and Reinforcing, Iron Workers Local Union No. 1.

The tentative agreement, which will cover 70 ironworkers at the CTA, calls for a $1.04 increase in  hourly wage rates for workers and foremen, and CTA contributions to the union's health and pension funds.

If ratified by workers, the contract will provide more flexibility and cost savings to CTA's construction work by enabling the agency to better structure work shifts and utilize foreman, agency officials said.

"This is a sound agreement that protects taxpayer investments and increases in efficiency in services provided to the public," Emanuel said. "It is essential that we have world-class infrastructure in Chicago, and this agreement allow us to maintain and improve our infrastructure in a responsible, forward-thinking way."

The agreement will enable CTA to accelerate rehabilitation projects, including a major slow zone remediation project on the Brown and Purple lines between the Merchandise Mart and Armitage Avenue.