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It cost nearly $29,000 for a spot in the city’s newest parking garage.

But there’s a twist: You don’t actually get a spot for all that cash.

Naples City Council on Wednesday voted unanimously to set the price of a parking spot in the garage at Sixth Avenue South and Eighth Street South at $28,900 per space.

But $28,900 will not buy a parking spot. That money will purchase development rights, not specific parking places, and will give developers hoping to build in downtown Naples the number of parking spaces needed to move forward with their project, said Russ Adams, the city’s community redevelopment director.

Developers have expressed interest in about 70 of the more than 300 spaces, Adams said. They will be unable to buy the spots, though, until building permits have been issued for each of the proposed projects.

Naples code requires that commercial spaces, such as offices and retail businesses, have one space per 300 square feet of gross floor space. When it comes to restaurants or bars, more parking spaces are needed than with commercial space, about one space per 100 square feet of gross floor area, including outdoor serving areas.

Off-site parking, according to city code, can be provided on land within 600 feet of the business. That means businesses need to be within 600 feet to buy spots in the lot, but all the businesses in the area have access to it.

Spots in the parking garage at Eighth Street South and Fourth Avenue South sold for about $20,000; developers spend about $2,500 to buy a spot on the street.

Now that a price is set, council members just need to decide what to do with the money. Once developers start purchasing spots, the money will funnel into the parking trust fund. From there, council can decide whether to use the money to pay for future parking improvements, or pay down the bond on the new garage.

Councilwoman Dee Sulick on Wednesday asked that the money be used to pay down debt on the new garage. Adams said he would look into the feasibility of Sulick’s request and report back during a future meeting.

The four-story garage is expected to cost more than $8 million, and be completed in January.