The newspaper says some proposed operations would be as large as the size of two football fields.
If approved at tonight's council meeting, the farms could only sell to medical cannabis dispensaries, but would be positioned to expand if voters statewide pass a November initiative to legalize recreational use of marijuana.
City officials say the plan could generate sizable revenue from business license taxes as well as the $211,000 that each farm operator would pay for an annual permit.
One businessman forecasts that he could hire 371 employees and pay at least $1.5 million a year in taxes under the plan, the Los Angeles Times reports.
Oakland's four retail marijuana stores did $28 million in business last year, the Oakland Tribune reports.