The park under construction on Essex Street will be named for Myron Ross, a Marine from Rahway who was killed in the Vietnam War.
Construction began in October and a dedication ceremony is expected later this year.
The City Council last month increased the bond ordinance for the park by $175,000, to $1.225 million, which includes $500,000 from a state Green Acres loan. City Administrator Peter Pelissier said the extra funds were the result of additional remediation needed at the site.
In 2002, the city dedicated Berzinec Park, which was named for William Berzinec, who also was killed in Vietnam. The site at Central and St. Georges avenues was home to the former public library until it was flooded by Tropical Storm Floyd in September 1999.