SANTA CLARA — City leaders have agreed to give up millions of dollars in revenue if they host the 50th Super Bowl in the new San Francisco 49ers stadium, saying private donations and economic activity would net the region a huge financial windfall anyway.

In a special meeting Tuesday night, the Santa Clara City Council is set to cap months of closed-door negotiations by voting on several resolutions of support for hosting the Super Bowl.

The issue for the city was whether it could afford to agree to a list of financial demands imposed by the NFL. On May 22, league owners will choose between the Bay Area and Miami to host Super Bowl L in February 2016. For Santa Clara, shooting down the NFL’s requests could make it tougher to land the game.

Unlike Miami, Santa Clara has agreed to waive its 9.5 percent hotel tax for about 350 employees of the NFL and the teams playing in the game. The city anticipates making up the tens of thousands of dollars in lost revenue by selling out other hotel rooms that normally might be vacant.

Super Bowl tickets would also be exempt from two ticket surcharges that will be in place for 49ers home games after the $1.2 billion stadium opens in 2014.

The exemptions on Super Bowl tickets include a 10 percent ticket surcharge — which would have raised about $6 million based on current Super Bowl ticket prices — and a 35-cent ticket fee that would have raised about $25,000 to fund senior and youth programs. Still, the face-value tickets won’t be cheap for fans: They cost $850 to $1,250 for last month’s Super Bowl.

Lastly, Santa Clara won’t impose a $4.54-per-space parking fee at nearby lots, a charge that will raise money during 49ers home games to help fund police and traffic management near the stadium.

Officials anticipate private donations will offset the revenue lost from waiving the parking fee and youth and senior ticket surcharges, and to pay for police and fire costs.

Assistant City Manager Alan Kurotori noted the agreement set to be signed Tuesday mandates the Super Bowl Bid Committee — a team of celebrities, officials and philanthropists — to pay back many of the costs the city incurs.

“It’s really the host committee who is stepping up,” Kurotori said, “to make the city whole.”

City officials agreed to the deal because they still expect to make money off the game, citing past Super Bowl hosts that have seen the event spur hundreds of millions of dollars in economic activity. Still, San Francisco — the official host city — would be home to many of the associated events and hotel stays.

Contact Mike Rosenberg at 408-920-5705. Follow him at Twitter.com/rosenbergmerc.