PHILADELPHIA (CBS) – A little more than a month before the park officially reopens for the summer, Philadelphia city officials are celebrating a new sponsor for LOVE Park.

Following a donation of $250,000, Bank Of America was named the presenting sponsor for the park’s plaza and garden.

READ MORE: 'Big Brother' Debuts Wednesday in a Special 90-Minute Live Event

The announcement comes more than two months after the LOVE sculpture was returned to the park.

READ MORE: Philadelphia Seeking Someone To Open Restaurant At Former LOVE Park Welcome Center

The city also took time to thank the Dixon family, responsible for the LOVE sculpture’s restoration.

Construction crews are putting the finishing touches on gathering spaces and a new visitor’s center.

MORE NEWS: Suspect Accused Of Shooting Into Northeast Philadelphia Bar, Killing 21-Year-Old Woman Arrested

LOVE park’s grand reopening and re-dedication is scheduled for May 30.