In the scenario that you have already referenced the Class Library in your MVC project, you may get an error as follows:
Cannot add reference to project because of a circular dependency error
If you try to reference the MVC project in the Class Library. You will not be able to add that project as a reference to your project. The reasoning for this is explained here: Cannot add reference to project because of a circular dependency error
Instead of adding the class to the Class Library project, you can add it to the MVC project. Then all you have to do is add:
using MyStuff.Classes; //Or the name of your class being referenced
You may now use the classes inside of your class library.
This is what I had to do in order to reference a class inside my class library project so I could use the data type "HttpPostedFileBase" because I could not use "System.Web.Abstractions" in my Class Library (it was not being referenced and I could not resolve it with this solution).
I hope this helps if someone runs into this weird scenario.