Mayor Fife also explained more detail of the no interest loan that is being made available, explaining that the funds aren't from the City, but from the USDA and funneled through the city. City's smaller than 25000 residents qualify for, and are receiving these funds for economic development.
Currently, Hampton Inn is looking to break ground as soon as August and hopes to be a functional hotel by May of next year. And an "as yet unnamed" restaurant is looking at building as part of the project. The ultimate goal is a central focal point to Brigham City that could help with downtown revitalization.
From the City's website, an artists conception of the Academy building is viewable here: