Town Councilors Monday approved establishment of the Alex Labbe Fund, named after the vivacious youth who succumbed to a heart condition three years ago.

Labbe’s parents, friends and other area patrons have made informal donations to the Parks and Recreation Department’s summertime Vacation Camp program in the years since Labbe’s death. But Monday’s council vote made official the fund’s existence, and secured tax deductible status for donations made to it.

Tom Farrell, the town’s director of Parks and Recreation, knew Labbe and said the memorial scholarship is a fitting legacy for the boy.

The town runs two camp sessions each summer; each four-week session costs $265.

“There is a need for financial assistance, I want you to be aware of that,” Farrell told the council Monday. “We field about 10-20 requests for financial assistance every year.”

No family is refused. Sometimes it means stretching out payment on a prorated basis or, in some cases, waiving the fee althogether. Establishment of the scholarship fund means “there is the potential to raise considerably more money to help far more children,” Farrell said.

Community fund-raising events are planned to feed revenue to the Labbe Fund. A web-based collection site also may be set up to take online contributions. John Eldredge, the town’s Finance Director, will be in charge of managing the fund’s strategy.