According to the Local Democracy Reporting Service, a council report says that while the event’s organisation could cost as much as £450,000, it would lead to a “large-scale promotion of Lincoln’s cultural and tourist assets”.
Last year’s total event is said to have provided a £40m boost to the economies of the areas it passed through, the LDRS added.
Nottinghamshire County Council, which has previously hosted a leg of the race, said the area saw a multi-million-pound bump from spectators spending on accommodation, food and travel.
The opportunity comes after the 70th Rapha Lincoln Grand Prix in May.
The Tour of Britain would take place after the city’s Steampunk Festival, which the report said would lead to “both opportunities and risks” logistically.
The council would be required to pay a hosting fee and be responsible for all traffic management and closures. It would also have to carry out work to improve road surfaces around the start and finish, according to the report.
A council committee is due to discuss the issue on 5 June.