Letter to the Editor: Reader Questions Kelsey’s Position on Halls Road ‘Political Football’

To the Editor:

Because the Republican Party has made the HROD an issue this election season, I thought to correct a recent letter that seemed ill informed or deceptive. I offered the below to CT Examiner last week, but they have not responded. Notably, David Kelsey is listed as the principal funder of the CT Examiner on its website (1).

On October 14, CT Examiner published Emerson Colwell’s “Finance Candidate’s Backing of Halls Road Overlay Shows Lack of Judgement.” Colwell argued Board of Finance member Thompson supported the Halls Road Overlay District (HROD), and should be replaced by candidates Matthew Olson and David Kelsey.

A few facts:

• Kelsey was a member of the Halls Road Improvement Committee (HRIC) from 2020-2023 (2). This was the key period in which the HROD plan as currently known was formed.
• Kelsey on June 9, 2022 was THE member who motioned to forward the draft HROD to the Zoning Commission (3). This was to be the first time the Zoning Commission rejected the HROD.
• HRIC minutes show Kelsey was an active HRIC participant and supported the plan.
• Kelsey, a former Wall Street investment banker focused on real estate, is co-founder of an investment company headquartered in Old Lyme that owns and operates apartment complexes and other commercial properties across the United States (4).
• Kelsey owns one property on Halls Road (5). I believe per the news at the time he claimed to buy it for altruistic purposes for the town. Kelsey’s company occupies another property in what could become the HROD. The property’s ownership is unclear per the Old Lyme GIS.  With HROD approval, it is reasonable to believe both properties would increase in value.

I do not personally know any of the candidates Mr. Colwell mentions. I do thank the three as well as our other volunteers of all or no parties upon our behalf. Mr. Kelsey has volunteered his time to the town over the years as have the others. I only wish to correct the errors.

But, if one were to take a paranoid mindset (and I do not), then … if there is anyone living in town that has the background, acumen, financial incentive, and access to massive sources of capital from across the country to build up Halls Road to the hilt, it is Republican Candidate David Kelsey and the team of Wall Street real estate investment professionals he leads.

The HROD was the result of many years of time generously volunteered by our neighbors. They did their best.  It was an open discussion with meetings, minutes, public outreach with surveys and open houses at Town Hall which many of us participated in. Greg Stroud the owner of the CT Examiner published some criticisms on legal issues, which the HRIC took to heart and made important changes. It was a non-partisan and bi-partisan effort to do something to improve things, as every generation should attempt to do for their community. Hopefully, some of its research assists the Zoning Commission in this new third round of examination of Halls Road.

What I would like to see next from the local press is an open discussion among the Republican candidates; perhaps Kelsey and a major HROD detractor. What does Kelsey think about the way things have gone down this year with his creation; it becoming a political football?  Does Kelsey and his firm have a secret plan for Halls Road?

Beware of those who peddle in unsupported accusations, drama, division, and/or deception.  Character matters.

Sincerely,

Sources:

1. https://ctexaminer.com/about/
2. https://onboard.oldlyme-ct.gov/board/4213
3. https://www.oldlyme-ct.gov/AgendaCenter/ViewFile/Minutes/_06092022-1686
4. https://hamiltonptinv.com/team/
5. https://oldlymect.mapgeo.io/datasets/properties?abuttersDistance=100&latlng=41.322986%2C-72.338979&previewId=21-54-1&zoom=20