A $600 million, eight-year contract with the city’s rank-and-file police union is set for consideration by aldermen on Tuesday. [Kelly Bauer/Block Club]

A years-overdue, $600 million contract with the Chicago Police Department’s rank-and-file union is set for its first public audience with aldermen on Tuesday, setting off a balancing act for city budget officials looking for ways to foot the bill for officer pay raises.