This response, dated August 13, 2003 from Jennifer Etheridge, then President of what was at the time the Fell's Point Homeowner's Association:

"This is INDEED the subject of MUCH debate, even within the Preservation Society and amongst our partners (such as the Maryland Historical Society). The problem with [leaving out the apostrophe] is that even if it were considered to be named after more than one Fell, it is STILL possessive, and would thus be Fells' Point as opposed to Fell's Point. Regardless of whether we're named for one Fell or multiple Fells, THAT's where you don't use the apostrophe == one Fell, two Fells. You DO when it's possessive, as in the Point of the Fell Family, or Fell's Point. I know The Sun doesn't use it, but that seems to be habit combined with an editorial decision not to deal with the apostrophe.

I know this isn't really helping; there is no clear position. All I can really tell you is that when I moved here and decided to purchase a tobacco jar style lamp from Brassworks, they asked me if I wanted the apostrophe or not. It was quite an investment at the time for two newlyweds who had just spent all of their money on the downpayment for a house. So, I wanted to get it right! That prompted my first contact with the Preservation Society, and they said DEFINITELY use the apostrophe. So I did. I was, and am, happy with this decision, as I believe proper usage of the English language needs to be preserved, not butchered. Don't know if this helps you, but it's my two cents!"

 To date, we have not received a better explanation of the issue.  The issue itself continues, with many Fell's Point organizations using and apostrophe and others not using it.