(I used these techniques for multiple programmers working on one project, but a lot of it applies to distributing an API as well, especially if you give source code access)
Symbolic links and svn externals are your friends here. So is CMake. I was working on a 3 programmer project a while ago, with each programmer working on a discreet layer (graphics, gameplay, and utility) and we didn't have a build server. It took me about 4 days of playing around with cmake to get everything working right, but the investment was well worth it.
The file structure looked like this
src
util
include
src
..
bin
assets
textures
meshes
...
The src directory in svn had externals to bin and assets, so someone checking out src automatically got those checked out.
CMake then did several things:
1. Automatically detect install paths for DX, OGL, and other programs such as Maya / 3ds Max (if the user was compiling things that needed them) and added them to the generated projects / makefiles. If a directory wasn't found through standard system / environment variables, the uses had the option of adding them manually.
2. Make a symlink to assets in the build directory.
3. Add pre-build events to copy binaries out of src/bin to bld/Debug and bld/Release (for VS).
4. Add post-build events to copy binaries out of bld/Debug and bld/Release to src/bin
The last two were done because we did not have a build server, and each programer didn't want to compile the code in the levels below the one they were working at. So if util and graphics were changed and compiled by the people working on them, after they made a commit, the game programmer would update and get new binaries without needing to build them or having the projects to be added to their own build. I used old fashioned copying rather than a symlink like with assets for two reasons: we wanted to keep the VS standard of compiling to /Debug and /Release, but we wanted to have one unified bin directory in the svn; and we didn't want to pollute the bin directory with all the VS specific files generated, and at the same time we didn't want to delete them because they were useful.