I'm having the same problem as others have but with a twist: It's a web project without a project file.
So, given this error message:
C:\MySolution\My.Project.Web\licenses.licx: Could not transform licenses file into a binary resource. Could not load file or assembly 'file:///C:\Program Files (x86)\Microsoft SDKs\Windows\v8.1A\bin\lc.exe' or one of its dependencies. The system cannot find the file specified.
(There is indeed no "file:///C:\Program Files (x86)\Microsoft SDKs\Windows\v8.1A\bin\lc.exe", but there is a subdirectory in "bin" called "NETFX 4.5.1 Tools" where lc.exe is. Moving its contents to "bin" had no effect)
Where can I define TargetFrameworkSDKToolsDirectory in web.config so I can point it to the correct path?
Using: Windows 10 64x, Visual Studio Community Edition 2015