Geffen's attorneys were negotiating with officials of the California Coastal Commission to work out a plan to finalize lawsuits filed by both parties, The Los Angeles Times reported.
If Geffen gives the public access to a 42-foot stretch of beach, he hopes to avoid removing structures like a private stairway to the beach, a large storage shed and a gate, the Times said. The shed is built on an easement held by the California Department of Transportation.
Linda Locklin, the commission's coastal access program manager, told the newspaper providing public access is a "good way" to offset the overall impact of violations.
If work at Geffen's compound is approved, he would also pay $310,000 in state legal expenses and other costs, the Times reported.