Coventry City Council representatives John Mutton and George Duggins are to meet Joy Seppala from SISU next Thursday.
They met on Tuesday and will meet again to talk about a possible rent reduction which Cllr Mutton said was only 5% of the club's monthly outgoings.
Speaking to BBC Coventry & Warwickshire's Clive Eakin, Cllr Mutton said that the council were prepared to consider schemes to use the Ricoh Arena more to capacity and if SISU can find the money, then there is the possibility of them being able to put hotels on the Ricoh Arena site to help with the shortfall in hotel beds in the City.
"We will look to provide assistance where we can," John Mutton said.