Metro and the Falls Church City Council appeared close to agreement yesterday on the document that would make available $275 million in federal subway construction funds. The funds will be lost if agreement is not reached by Falls Church and all other Metro partners by the end of this month.

An apparent compromise was worked out in a late afternoon meeting yesterday between four memebers of the seven-member Falls Church council and Metro General Manager Richard S. Page.

At issue has been a new Metro construction schedule that calls for a temporary Metro terminal in West Falls Church on the subway line that is planned to run from the existing Rosslyn Station to Vienna. The Falls Church council, which must sign a regional agreement before the federal funds can be released, called the schedule in the agreement unacceptable and insisted that the line to Vienna be completed before the West Falls Church station is opened.

The station, close to George Mason Junior-Senior High School, would create unbearable traffic around the school, the council said.

Under the agreement tentatively worked out yesterday, the Metro board must adopt a resolution stating that its "intent and objective" is to open the entire Vienna line at one time, avoiding the problem. Falls Church would then sign the regional accord because, as a practical matter, it must subsequently approve local funding for the Vienna line and thus has another opportunity to assure its interests are protected.

Falls Church Mayor Harold Miller characterized the meeting yesterday as one of "substantial progress." "We need some assurances," Miller said. "And we think we're close to getting them."

he Metro board will probably consider the resolution Thursday, according to officials.