Speedway homeowners expect to cash in race weekend

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SPEEDWAY, Ind. (May 20, 2015) - Race weekend is quickly approaching and the town of Speedway has already put parking restrictions in effect. Signs are up on Main Street and throughout downtown letting drivers know it's illegal to park there on race day. Speedway Police urge drivers to pay attention to these signs and others.

“Be very aware of where you’re parking. Look for signage. There are some streets in the town of Speedway that will have permitted parking to where you can’t park on the street," said Lt. Trent Theobald.

Neighborhood streets also have restrictions. If your car is parked along a side street that has signs saying "no parking," your car will be towed.

Homeowners are taking advantage of the parking demand. Some sell spots in their yards and lawn for an average of $20 per vehicle. Kevin Johnson rents out his lawn. It comes with full amenities, including couches, a TV, bathrooms, even a shower. He says reservations are required months in advance for most spots on his street.

“I usually have a sign up but I’m full this year," Johnson said.

Police say residents who sell parking spots must make sure cars aren't parked on the street and they can't block off the street to save spots.

"For homeowners to put cones and any type of obstruction in the street, it is illegal. It’s a town ordinance and they will be cited," said Lt. Theobald.

Speedway Police say plan extra time and think in advance of where you want to park. Part of that time includes navigating around traffic. 16th Street and Georgetown Road, including the new roundabout will be closed starting one hour before the race on Sunday.