Minn. Stat. § 469.192: ECONOMIC DEVELOPMENT LOANS.

A statutory city, a home rule charter city, an economic development authority, a housing and redevelopment authority, or a port authority may make a loan to a business, a for-profit or nonprofit organization, or an individual for any purpose that the entity is otherwise authorized to carry out under sections 116J.415, 469.001 to 469.068, 469.090 to 469.1081, 469.124 to 469.133, 469.152 to 469.165, or any special law.