AUSTIN (KXAN) - A crowded Formula One parking situation could also be a lucrative one for Travis County.
Tuesday, county commissioners discussed modifying contracts with parking lot vendors for the week of November's Formula One race.
"It makes sense for us to try and capitalize a little bit," said Travis County Judge Sam Biscoe.
The county currently owns several lots downtown which add up to approximately 2,500 spaces. Most of those spaces are free on the weekends and average anywhere from $5 to $10 during the week.
The modified contracts would allow vendors to charge on race weekend and it will likely be at a steeper price.
"I would say in the $15-20 range," estimated Biscoe but he also wants prices set before that weekend arrives in order to prevent price gouging.
"We need to approve the amount that is charged so we can make sure we are not being excessive," he said.
Biscoe said he does not want people paying four or five times the normal price like many are when purchasing hotel rooms.
The money paid for parking is split between vendors and the county. The county's share goes into the general fund.
Circuit of the Americas plans anticipate an estimated one-third of all race attendees will park at the track, while the rest will take shuttles from remote locations including two primary parking places at the Travis County Expo Center and Waterloo Park.
Circuit of the Americas proposed renting the Del Valle I.S.D. parking areas during the event for employee and volunteer parking.
Downtown parking is expected to be in demand because of other festivities taking place in the area during race week.
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