diff --git a/src/AddIns/BackendBindings/VBNetBinding/Project/Resources/BuildOptions.xfrm b/src/AddIns/BackendBindings/VBNetBinding/Project/Resources/BuildOptions.xfrm
index 2c970abeea..924c6f8f6d 100644
--- a/src/AddIns/BackendBindings/VBNetBinding/Project/Resources/BuildOptions.xfrm
+++ b/src/AddIns/BackendBindings/VBNetBinding/Project/Resources/BuildOptions.xfrm
@@ -8,30 +8,30 @@
         <Name value="generalGroupBox" />
         <Location value="{X=3,Y=3}" />
         <Text value="${res:Dialog.ProjectOptions.BuildOptions.General}" />
+        <Anchor value="Top, Left, Right" />
         <Size value="{Width=521, Height=152}" />
         <TabIndex value="0" />
-        <Anchor value="Top, Left, Right" />
         <Controls>
           <System.Windows.Forms.ComboBox>
             <Name value="optionCompareComboBox" />
-            <TabIndex value="8" />
             <Size value="{Width=132, Height=21}" />
+            <TabIndex value="7" />
             <FormattingEnabled value="True" />
             <DropDownStyle value="DropDownList" />
             <Location value="{X=317,Y=125}" />
           </System.Windows.Forms.ComboBox>
           <System.Windows.Forms.ComboBox>
             <Name value="optionStrictComboBox" />
-            <TabIndex value="7" />
             <Size value="{Width=132, Height=21}" />
+            <TabIndex value="6" />
             <FormattingEnabled value="True" />
             <DropDownStyle value="DropDownList" />
             <Location value="{X=179,Y=125}" />
           </System.Windows.Forms.ComboBox>
           <System.Windows.Forms.ComboBox>
             <Name value="optionExplicitComboBox" />
-            <TabIndex value="6" />
             <Size value="{Width=160, Height=21}" />
+            <TabIndex value="5" />
             <FormattingEnabled value="True" />
             <DropDownStyle value="DropDownList" />
             <Location value="{X=13,Y=125}" />
@@ -41,37 +41,35 @@
             <Location value="{X=6,Y=111}" />
             <Text value="${res:Dialog.ProjectOptions.BuildOptions.VBOptionsDefaultValues}" />
             <Size value="{Width=218, Height=23}" />
-            <TabIndex value="5" />
+            <TabIndex value="4" />
           </System.Windows.Forms.Label>
           <System.Windows.Forms.CheckBox>
             <Name value="removeOverflowCheckBox" />
             <Location value="{X=12,Y=84}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <Text value="${res:Dialog.ProjectOptions.BuildOptions.RemoveOverflowChecks}" />
-            <TabIndex value="4" />
+            <TabIndex value="3" />
             <Size value="{Width=502, Height=24}" />
           </System.Windows.Forms.CheckBox>
           <System.Windows.Forms.Label>
             <Name value="label1" />
             <Location value="{X=6,Y=17}" />
             <Text value="${res:Dialog.ProjectOptions.BuildOptions.ConditionalSymbols}" />
+            <Anchor value="Top, Left, Right" />
             <TextAlign value="BottomLeft" />
             <Size value="{Width=470, Height=16}" />
             <TabIndex value="0" />
-            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.Label>
           <System.Windows.Forms.TextBox>
             <Name value="conditionalSymbolsTextBox" />
             <TabIndex value="1" />
-            <Anchor value="Top, Left, Right" />
             <Size value="{Width=502, Height=21}" />
             <Location value="{X=13,Y=36}" />
+            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.TextBox>
           <System.Windows.Forms.CheckBox>
             <Name value="optimizeCodeCheckBox" />
             <AccessibleRole value="None" />
             <Location value="{X=13,Y=64}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <Text value="${res:Dialog.ProjectOptions.BuildOptions.OptimizeCode}" />
             <TabIndex value="2" />
             <Size value="{Width=502, Height=24}" />
@@ -83,22 +81,22 @@
         <Name value="groupBox3" />
         <Location value="{X=3,Y=161}" />
         <Text value="${res:Dialog.ProjectOptions.Build.Output}" />
-        <Size value="{Width=521, Height=248}" />
-        <TabIndex value="1" />
         <Anchor value="Top, Left, Right" />
+        <Size value="{Width=521, Height=279}" />
+        <TabIndex value="1" />
         <Controls>
           <System.Windows.Forms.GroupBox>
             <Name value="advancedOutputGroupBox" />
-            <Location value="{X=6,Y=115}" />
+            <Location value="{X=6,Y=150}" />
             <Text value="${res:Dialog.ProjectOptions.Build.Advanced}" />
-            <Size value="{Width=505, Height=127}" />
-            <TabIndex value="7" />
             <Anchor value="Top, Bottom, Left, Right" />
+            <Size value="{Width=505, Height=123}" />
+            <TabIndex value="9" />
             <Controls>
               <System.Windows.Forms.ComboBox>
                 <Name value="targetCpuComboBox" />
-                <TabIndex value="4" />
                 <Size value="{Width=171, Height=21}" />
+                <TabIndex value="4" />
                 <FormattingEnabled value="True" />
                 <DropDownStyle value="DropDownList" />
                 <Location value="{X=193,Y=71}" />
@@ -113,9 +111,9 @@
               </System.Windows.Forms.Label>
               <System.Windows.Forms.TextBox>
                 <Name value="dllBaseAddressTextBox" />
-                <TabIndex value="8" />
+                <TabIndex value="6" />
                 <Size value="{Width=171, Height=21}" />
-                <Location value="{X=193,Y=98}" />
+                <Location value="{X=193,Y=96}" />
               </System.Windows.Forms.TextBox>
               <System.Windows.Forms.Label>
                 <Name value="label8" />
@@ -123,12 +121,11 @@
                 <Text value="${res:Dialog.ProjectOptions.Build.DLLBaseAddress}" />
                 <TextAlign value="MiddleRight" />
                 <Size value="{Width=180, Height=23}" />
-                <TabIndex value="7" />
+                <TabIndex value="5" />
               </System.Windows.Forms.Label>
               <System.Windows.Forms.CheckBox>
                 <Name value="registerCOMInteropCheckBox" />
                 <Location value="{X=175,Y=18}" />
-                <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
                 <Text value="${res:Dialog.ProjectOptions.Build.RegisterForCOM}" />
                 <TabIndex value="0" />
                 <Size value="{Width=209, Height=20}" />
@@ -144,25 +141,40 @@
               </System.Windows.Forms.Label>
               <System.Windows.Forms.ComboBox>
                 <Name value="generateSerializationAssemblyComboBox" />
-                <TabIndex value="2" />
                 <Size value="{Width=171, Height=21}" />
+                <TabIndex value="2" />
                 <FormattingEnabled value="True" />
                 <DropDownStyle value="DropDownList" />
                 <Location value="{X=193,Y=44}" />
               </System.Windows.Forms.ComboBox>
             </Controls>
           </System.Windows.Forms.GroupBox>
+          <System.Windows.Forms.ComboBox>
+            <Name value="targetFrameworkComboBox" />
+            <Size value="{Width=121, Height=21}" />
+            <TabIndex value="8" />
+            <FormattingEnabled value="True" />
+            <DropDownStyle value="DropDownList" />
+            <Location value="{X=164,Y=115}" />
+          </System.Windows.Forms.ComboBox>
+          <System.Windows.Forms.Label>
+            <Name value="targetFrameworkLabel" />
+            <Location value="{X=13,Y=115}" />
+            <Text value="${res:Dialog.ProjectOptions.Build.TargetFramework}" />
+            <Size value="{Width=150, Height=20}" />
+            <TabIndex value="7" />
+          </System.Windows.Forms.Label>
           <System.Windows.Forms.ComboBox>
             <Name value="debugInfoComboBox" />
-            <TabIndex value="6" />
             <Size value="{Width=121, Height=21}" />
+            <TabIndex value="6" />
             <FormattingEnabled value="True" />
             <DropDownStyle value="DropDownList" />
             <Location value="{X=164,Y=88}" />
           </System.Windows.Forms.ComboBox>
           <System.Windows.Forms.Label>
             <Name value="debugInfoLabel" />
-            <Location value="{X=13,Y=86}" />
+            <Location value="{X=13,Y=88}" />
             <Text value="${res:Dialog.ProjectOptions.Build.DebugInfo}" />
             <TextAlign value="MiddleRight" />
             <Size value="{Width=145, Height=23}" />
@@ -171,7 +183,6 @@
           <System.Windows.Forms.CheckBox>
             <Name value="xmlDocumentationCheckBox" />
             <Location value="{X=13,Y=63}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <Text value="${res:Dialog.ProjectOptions.Build.XmlDocumentationFile}" />
             <TabIndex value="3" />
             <Size value="{Width=151, Height=20}" />
@@ -179,58 +190,56 @@
           <System.Windows.Forms.TextBox>
             <Name value="xmlDocumentationTextBox" />
             <TabIndex value="4" />
-            <Anchor value="Top, Left, Right" />
             <Size value="{Width=351, Height=21}" />
             <Location value="{X=164,Y=62}" />
+            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.TextBox>
           <System.Windows.Forms.Label>
             <Name value="label5" />
             <Location value="{X=6,Y=17}" />
             <Text value="${res:Dialog.ProjectOptions.Build.OutputPath}" />
+            <Anchor value="Top, Left, Right" />
             <TextAlign value="BottomLeft" />
             <Size value="{Width=505, Height=16}" />
             <TabIndex value="0" />
-            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.Label>
           <System.Windows.Forms.TextBox>
             <Name value="outputPathTextBox" />
             <TabIndex value="1" />
-            <Anchor value="Top, Left, Right" />
             <Size value="{Width=457, Height=21}" />
             <Location value="{X=13,Y=36}" />
+            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.TextBox>
           <System.Windows.Forms.Button>
             <Name value="outputPathBrowseButton" />
             <Location value="{X=475,Y=36}" />
             <Text value="..." />
-            <Size value="{Width=40, Height=21}" />
             <Anchor value="Top, Right" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
+            <Size value="{Width=40, Height=21}" />
             <TabIndex value="2" />
           </System.Windows.Forms.Button>
         </Controls>
       </System.Windows.Forms.GroupBox>
       <System.Windows.Forms.GroupBox>
         <Name value="treatWarningsAsErrorsGroupBox" />
-        <Location value="{X=3,Y=501}" />
+        <Location value="{X=3,Y=526}" />
         <Text value="${res:Dialog.ProjectOptions.Build.TreatWarningsAsErrors}" />
+        <Anchor value="Top, Left, Right" />
         <Size value="{Width=521, Height=100}" />
         <TabIndex value="3" />
-        <Anchor value="Top, Left, Right" />
         <Controls>
           <System.Windows.Forms.TextBox>
             <Name value="specificWarningsTextBox" />
             <TabIndex value="2" />
-            <Anchor value="Top, Left, Right" />
             <Size value="{Width=377, Height=21}" />
             <Location value="{X=136,Y=44}" />
+            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.TextBox>
           <System.Windows.Forms.RadioButton>
             <Name value="allRadioButton" />
             <Location value="{X=8,Y=68}" />
             <Text value="${res:Dialog.ProjectOptions.Build.TreatWarningsAsErrors.All}" />
             <Size value="{Width=128, Height=24}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <TabIndex value="3" />
           </System.Windows.Forms.RadioButton>
           <System.Windows.Forms.RadioButton>
@@ -238,7 +247,6 @@
             <Location value="{X=8,Y=44}" />
             <Text value="${res:Dialog.ProjectOptions.Build.TreatWarningsAsErrors.Specific}" />
             <Size value="{Width=128, Height=24}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <TabIndex value="1" />
           </System.Windows.Forms.RadioButton>
           <System.Windows.Forms.RadioButton>
@@ -246,25 +254,24 @@
             <Location value="{X=8,Y=20}" />
             <Text value="${res:Dialog.ProjectOptions.Build.TreatWarningsAsErrors.None}" />
             <Size value="{Width=128, Height=24}" />
-            <FlatAppearance value="System.Windows.Forms.FlatButtonAppearance" />
             <TabIndex value="0" />
           </System.Windows.Forms.RadioButton>
         </Controls>
       </System.Windows.Forms.GroupBox>
       <System.Windows.Forms.GroupBox>
         <Name value="warningsGroupBox" />
-        <Location value="{X=3,Y=415}" />
+        <Location value="{X=3,Y=440}" />
         <Text value="${res:Dialog.ProjectOptions.Build.ErrorsAndWarnings}" />
+        <Anchor value="Top, Left, Right" />
         <Size value="{Width=521, Height=80}" />
         <TabIndex value="2" />
-        <Anchor value="Top, Left, Right" />
         <Controls>
           <System.Windows.Forms.TextBox>
             <Name value="suppressWarningsTextBox" />
             <TabIndex value="3" />
-            <Anchor value="Top, Left, Right" />
             <Size value="{Width=349, Height=21}" />
             <Location value="{X=164,Y=44}" />
+            <Anchor value="Top, Left, Right" />
           </System.Windows.Forms.TextBox>
           <System.Windows.Forms.Label>
             <Name value="label4" />
@@ -276,8 +283,8 @@
           </System.Windows.Forms.Label>
           <System.Windows.Forms.ComboBox>
             <Name value="warningLevelComboBox" />
-            <TabIndex value="1" />
             <Size value="{Width=60, Height=21}" />
+            <TabIndex value="1" />
             <FormattingEnabled value="True" />
             <DropDownStyle value="DropDownList" />
             <Location value="{X=164,Y=20}" />
diff --git a/src/AddIns/BackendBindings/VBNetBinding/Project/Src/OptionPanels/BuildOptions.cs b/src/AddIns/BackendBindings/VBNetBinding/Project/Src/OptionPanels/BuildOptions.cs
index ea1266221c..60f3e13f66 100644
--- a/src/AddIns/BackendBindings/VBNetBinding/Project/Src/OptionPanels/BuildOptions.cs
+++ b/src/AddIns/BackendBindings/VBNetBinding/Project/Src/OptionPanels/BuildOptions.cs
@@ -56,6 +56,9 @@ namespace VBNetBinding.OptionPanels
 			
 			InitOutputPath();
 			InitXmlDoc();
+			InitTargetFramework(VBNetProject.DefaultTargetsFile,
+			   @"$(SharpDevelopBinPath)\SharpDevelop.Build.VisualBasic.targets");
+
 			InitAdvanced();
 			InitWarnings();
 			
diff --git a/src/Libraries/ICSharpCode.Build.Tasks/Project/ICSharpCode.Build.Tasks.csproj b/src/Libraries/ICSharpCode.Build.Tasks/Project/ICSharpCode.Build.Tasks.csproj
index eacd29d2bc..d8b483cc05 100644
--- a/src/Libraries/ICSharpCode.Build.Tasks/Project/ICSharpCode.Build.Tasks.csproj
+++ b/src/Libraries/ICSharpCode.Build.Tasks/Project/ICSharpCode.Build.Tasks.csproj
@@ -58,6 +58,9 @@
     <Compile Include="..\..\..\Main\GlobalAssemblyInfo.cs">
       <Link>GlobalAssemblyInfo.cs</Link>
     </Compile>
+    <None Include="SharpDevelop.Build.VisualBasic.targets">
+      <CopyToOutputDirectory>Always</CopyToOutputDirectory>
+    </None>
   </ItemGroup>
   <ItemGroup>
     <Content Include="SharpDevelop.Build.CSharp.targets">
diff --git a/src/Libraries/ICSharpCode.Build.Tasks/Project/SharpDevelop.Build.VisualBasic.targets b/src/Libraries/ICSharpCode.Build.Tasks/Project/SharpDevelop.Build.VisualBasic.targets
new file mode 100644
index 0000000000..d3efa3602f
--- /dev/null
+++ b/src/Libraries/ICSharpCode.Build.Tasks/Project/SharpDevelop.Build.VisualBasic.targets
@@ -0,0 +1,139 @@
+<Project DefaultTargets="Build" xmlns="http://schemas.microsoft.com/developer/msbuild/2003">
+	<!-- This file can be used to compile VB.NET applications against other .NET Framework versions -->
+	
+	<PropertyGroup Condition=" '$(TargetFrameworkVersion)' == 'v1.0' ">
+		<VbcToolPath>$(SystemRoot)\Microsoft.NET\Framework\v1.0.3705</VbcToolPath>
+		<SharpDevelopUse1xCompiler>true</SharpDevelopUse1xCompiler>
+		<SharpDevelopUseMicrosoftFramework>true</SharpDevelopUseMicrosoftFramework>
+	</PropertyGroup>
+	<PropertyGroup Condition=" '$(TargetFrameworkVersion)' == 'v1.1' ">
+		<VbcToolPath>$(SystemRoot)\Microsoft.NET\Framework\v1.1.4322</VbcToolPath>
+		<SharpDevelopUse1xCompiler>true</SharpDevelopUse1xCompiler>
+		<SharpDevelopUseMicrosoftFramework>true</SharpDevelopUseMicrosoftFramework>
+	
+		<!-- Work around MsBuild problem: Microsoft.VisualBasic.targets adds NoWarn entries that -->
+		<!-- don't exist in v1.1 when version is set to anything else than v1.0 -->
+		<TargetFrameworkVersion>v1.0</TargetFrameworkVersion>
+	</PropertyGroup>
+	<PropertyGroup Condition=" '$(SharpDevelopUse1xCompiler)' == 'true' ">
+		<UseHostCompilerIfAvailable>false</UseHostCompilerIfAvailable>
+		<PlatformTarget/>
+	</PropertyGroup>
+	
+	<PropertyGroup Condition=" '$(TargetFrameworkVersion)' == 'v2.0' ">
+		<SharpDevelopUseMicrosoftFramework>true</SharpDevelopUseMicrosoftFramework>		
+	</PropertyGroup>
+	
+	<!-- Use Microsoft's VB standard targets -->
+	<Import Condition=" '$(SharpDevelopUseMicrosoftFramework)' == 'true' " Project="$(MSBuildBinPath)\Microsoft.VisualBasic.targets" />
+	
+	<!-- Override properties created by Microsoft.VisualBasic.targets -->
+	<PropertyGroup Condition=" '$(SharpDevelopUse1xCompiler)' == 'true' ">
+		<AssemblySearchPaths>
+		{CandidateAssemblyFiles};
+		$(ReferencePath);
+		{HintPathFromItem};
+		{TargetFrameworkDirectory};
+		{AssemblyFolders};
+		$(OutputPath);
+		{GAC}
+		</AssemblySearchPaths>
+		
+		<TargetFrameworkDirectory>$(VbcToolPath)</TargetFrameworkDirectory>
+	</PropertyGroup>
+	
+	<ItemGroup Condition=" '$(SharpDevelopUse1xCompiler)' == 'true' ">
+		<TargetFrameworkDirectoryItem Include="$(VbcToolPath)">
+			<InProject>false</InProject>
+		</TargetFrameworkDirectoryItem>
+	</ItemGroup>
+	
+	<!-- GetFrameworkPaths overwrites TargetFrameworkDirectory, so modify it -->
+	<!-- to be inactive if SharpDevelopUse1xCompiler is set. -->
+	<Target Name="GetFrameworkPaths" DependsOnTargets="$(GetFrameworkPathsDependsOn)" Condition=" '$(SharpDevelopUseMicrosoftFramework)' == 'true' ">
+		<Error Condition=" ('$(SharpDevelopUse1xCompiler)' == 'true') And !Exists('$(VbcToolPath)\Vbc.exe') "
+		       Text="Could not find the VB.NET compiler in $(VbcToolPath)."/>
+		
+		<GetFrameworkPath Condition=" '$(SharpDevelopUse1xCompiler)' != 'true' ">
+			<Output TaskParameter="Path" PropertyName="TargetFrameworkDirectory"/>
+			<Output TaskParameter="Path" ItemName="TargetFrameworkDirectoryItem"/>
+		</GetFrameworkPath>
+		
+		<GetFrameworkSDKPath Condition=" '$(SharpDevelopUse1xCompiler)' != 'true' ">
+			<Output TaskParameter="Path" PropertyName="TargetFrameworkSDKDirectory"/>
+			<Output TaskParameter="Path" ItemName="TargetFrameworkSDKDirectoryItem"/>
+		</GetFrameworkSDKPath>
+	</Target>
+
+	<!-- Redefine the Vbc target and set noconfig to false - preventing the Vbc
+	task from passing the noconfig argument to the Vbc 1.1 compiler which does not
+	support it -->
+    <Target
+        Name="CoreCompile"
+        Inputs="$(MSBuildAllProjects);
+                @(Compile);
+                @(ManifestResourceWithNoCulture);
+                $(ApplicationIcon);
+                $(AssemblyOriginatorKeyFile);
+                @(ManifestNonResxWithNoCultureOnDisk);
+                @(ReferencePath);
+                @(CompiledLicenseFile);
+                @(EmbeddedDocumentation);
+                @(CustomAdditionalCompileInputs)"
+        Outputs="@(DocFileItem);
+                 @(IntermediateAssembly);
+                 $(NonExistentFile);
+                 @(CustomAdditionalCompileOutputs)"
+        DependsOnTargets="$(CoreCompileDependsOn)"
+    >
+    <Vbc
+              AdditionalLibPaths="$(AdditionalLibPaths)"
+              AddModules="@(AddModules)"
+              BaseAddress="$(BaseAddress)"          
+              CodePage="$(CodePage)"
+              DebugType="$(DebugType)"
+              DefineConstants="$(FinalDefineConstants)"
+              DelaySign="$(DelaySign)"
+              DisabledWarnings="$(NoWarn)"
+              DocumentationFile="@(DocFileItem)"
+              EmitDebugInformation="$(DebugSymbols)"
+              ErrorReport="$(ErrorReport)"
+              FileAlignment="$(FileAlignment)"
+              GenerateDocumentation="$(GenerateDocumentation)"
+              Imports="@(Import)"
+              KeyContainer="$(KeyContainerName)"
+              KeyFile="$(KeyOriginatorFile)"
+              MainEntryPoint="$(StartupObject)"
+              NoConfig="false"
+              NoStandardLib="$(NoStdLib)"
+              NoWarnings="$(_NoWarnings)"
+              Optimize="$(Optimize)"
+              OptionCompare="$(OptionCompare)"
+              OptionExplicit="$(OptionExplicit)"
+              OptionStrict="$(OptionStrict)"
+              OptionStrictType="$(OptionStrictType)" 
+              OutputAssembly="@(IntermediateAssembly)"
+              Platform="$(PlatformTarget)"
+              References="@(ReferencePath)"
+              RemoveIntegerChecks="$(RemoveIntegerChecks)"
+              Resources="@(ManifestResourceWithNoCulture);@(ManifestNonResxWithNoCultureOnDisk);@(CompiledLicenseFile)"
+              ResponseFiles="$(CompilerResponseFile)"
+              RootNamespace="$(RootNamespace)"
+              SdkPath="$(FrameworkPathOverride)"
+              Sources="@(Compile)"
+              TargetCompactFramework="$(TargetCompactFramework)"
+              TargetType="$(OutputType)"
+              ToolPath="$(VbcToolPath)"
+              TreatWarningsAsErrors="$(TreatWarningsAsErrors)"
+              UseHostCompilerIfAvailable="$(UseHostCompilerIfAvailable)"
+              Utf8Output="$(Utf8Output)"
+              Verbosity="$(VbcVerbosity)"
+              WarningsAsErrors="$(WarningsAsErrors)"
+              WarningsNotAsErrors="$(WarningsNotAsErrors)"
+              Win32Icon="$(ApplicationIcon)"
+              Win32Resource="$(Win32Resource)"
+              />
+
+    </Target>
+
+</Project>