Script assembly Webapp_VI_StandardWeb_Debug_AP not found in 'DialogScriptAssembly'.

I'm getting the following error in the event viewer after installing the web application:

I'm using the latest edition, fresh deployment of V7.1 SP1 released 2/10/2017

I tried to complie the web project from the web designer, but it failed with no error details.

I tried to copy the DLLs from QBM as referred in this post, but it did not solve my issue.
http://en.community.dell.com/techcenter/iam/f/4789/t/19974253

VI.Base.ViException: Script assembly Webapp_VI_StandardWeb_Debug_AP not found in 'DialogScriptAssembly'.
at VI.DB.Scripting.DialogAssemblyProvider.CreateScriptAssembly()
at VI.DB.Scripting.DynamicAssemblyProviderBase.GetScriptAssembly()
at VI.DB.Scripting.CachingAssemblyProvider._CacheSourceClass()
at VI.DB.Scripting.CachingAssemblyProvider.CreateScriptAssembly()
at VI.DB.Scripting.DynamicAssemblyProviderBase.GetScriptAssembly()
at VI.DB.Scripting.DialogScriptSupplierBase.GetScriptAssemblyAsync(String name, CancellationToken cancellationToken)
at VI.WebRuntime.WebProjectAssemblyLoader.<>c__DisplayClass10_0.<Load>b__0()
at VI.Base.SyncActions.Do[T](Func`1 function)
at VI.WebRuntime.ApplicationInfoGroup.LoadWebAssemblyWithFallback(IWebAppDbConfig webAppDbConfig, String databaseId, IWebProjectAssemblyLoader assemblyStore, String webProjectName, Boolean loadBranchAssemblies)
at VI.WebRuntime.ApplicationInfoGroup.LoadWebAssemblyWithFallback(IWebAppDbConfig webAppDbConfig, String databaseId, IWebProjectAssemblyLoader assemblyStore, String webProjectName, Boolean loadBranchAssemblies)
at VI.WebRuntime.ApplicationInfoGroup.LoadAppInfoSafe(IWebAppDbConfig webAppDbConfig, IWebProjectAssemblyLoader assemblyStore, ITempFileManager tempFileManager, String webProjectName, Int32 projectGroupIndex, Boolean loadBranchAssemblies)
at VI.WebRuntime.ApplicationInfoGroup.LoadAppInfo(IWebAppDbConfig webAppDbConfig, IWebProjectAssemblyLoader assemblyStore, String webProjectName, Int32 projectGroupIndex, Boolean loadBranchAssemblies)
at VI.WebRuntime.ConfigurationUpdater.LoadAppInfoGroup(IApplicationInfoGroup appInfoGroup, Boolean loadBranchAssemblies, String projectName, Int32 projectGroupIndex)
at VI.WebRuntime.ConfigurationUpdater.GetMainAppInfoGroup(Boolean forceCheckImmediately)
at VI.WebRuntime.ConfigurationUpdater.GetAppInfoGroup(String branchId, Boolean forceCheckImmediately)
at VI.WebRuntime.Communication.RequestAuthenticationModule.GetApplicationInfoForCurrentRequest(HttpRequestBase request, String branchId)
at VI.WebRuntime.Communication.RequestAuthenticationModule.Execute(IRequestModuleInfo validatorModuleInfo)
at VI.WebRuntime.Communication.HttpModuleWebRuntime.ContextOnPreRequestHandlerExecute(Object sender, EventArgs eventArgs)