As suggested in the error, I tried to add reference of the nuget package Microsoft.EntityFramework.Core.Design 3.1.0. This reference was added to my web project.
After adding this reference, clean and build the solution.
Не вникал в суть проблемы, но мой csproj конфиг следующий:
<Project Sdk="Microsoft.NET.Sdk">
<PropertyGroup>
<TargetFramework>netcoreapp3.1</TargetFramework>
<LangVersion>8.0</LangVersion>
</PropertyGroup>
<ItemGroup>
<PackageReference Include="Microsoft.EntityFrameworkCore.Design" Version="3.1.1" />
<PackageReference Include="Npgsql.EntityFrameworkCore.PostgreSQL" Version="
3.1.1.2" />
</ItemGroup>
</Project>
Тулзы установились без проблем командой выше