A week-long confrontation between Chicago public school teachers and Mayor Rahm Emanuel moved toward resolution on Friday as the two sides reached a tentative agreement that could end a five-day strike and clear the way for classes to resume on Monday in the third largest U.S. school district....

Details of the tentative agreement were not immediately released, but it was clear that Emanuel had retreated on his teacher evaluation demands, agreeing to phase in the new standards and reduce the importance of standardized tests.

The deal also is expected to be costly for Emanuel and the school district, which is facing a financial crisis.

The school district has offered average wage increases of 16 percent over four years, plus some benefit improvements. It is not clear how Emanuel will pay for those since the district faces a $665 million budget deficit this year, has drained financial reserves and levied property taxes to the legal limit.