When I create a universal single-page application solution in MonoDevelop 3.0 the build fails because:
{DIRECTORY}/iTEST/AppDelegate.cs(7,7): Error CS0246: The type or namespace name `MonoTouch' could not be found. Are you missing a using directive or an assembly reference? (CS0246) (iTEST)
I looked in Preferences -> SDK locations -> and verified that I have the MonoTouch SDK installed. What could be causing this?
Turns out that I had the experimental build feature enabled, which does not support ASP.NET or MonoTouch projects. This can be disabled via the Preferences->Build pane.