I have the same problem. the dist/lib folder is not being created. I used to be created, but is no longer. I have tried regenerating my build.xml and build-impl.xml for the project but it does not seem to make a difference.
I actually figured this out a few minutes after my post. My problem was that in my library manager I had added a folder of classes instead of the jar file itself. The README.txt that is created in the dst foler explains that the lib folder is not created if you do this. I fixed it in my library manager in the problem was solved