The club will ask the council to approve the sale of a piece of land in Leckwith, which it is hoping then to sell to an investor for £1.8m to help pay off the Inland Revenue.
An emergency meeting of the council's executive to discuss this single issue has been scheduled for next Tuesday , February 2, at 1.30pm.
If the council approves the sale, it would give the club just six working days to raise money from the land, part of which has planning permission for a hotel, in order to pay off the taxman before the club faces a winding-up order on February 10 in the High Court.
The Echo understands that City has already lined up a buyer.
Click here for the full article from today's South Wales Echo.
This has been followed up this afternoon with the following statement from Council leader Rodney Berman.
"I have every expectation we will take the decision to progress with this on Tuesday.
"Some of the details are still being worked through but all the issues of concern we might have had we've been talking through with the club and getting satisfactory answers.
"I can't see anything that's going to prevent us getting an agreement."