Santa Monica officials say they are “very close” to reaching an agreement to host beach volleyball during the 2028 Summer Olympics, even though it might end up costing the city more than $12 million.

That worst-case scenario is outlined in a 36-page report issued Tuesday night, a week ahead of an Oct. 8 City Council meeting that will include the opportunity for public comment.

The report also notes that Santa Monica could recoup most or all of its costs if the Games are successful.

“We think we are very close to addressing all the outstanding issues,” city manager David White said. “That’s why we are very confident and feel that this is a good time to be in front of our council.”

If the city decides to sign a binding Games Agreement with LA28, the organizing committee would build a temporary 12,000-seat stadium on the sand north of Santa Monica’s famed pier.

The parties have been in sometimes-contentious negotiations for more than a year.