The implications of transferring a concept such as a business improvement district (BID) into the British context have attracted considerable critical attention in terms of planning and governance (Hoyt, 2004; Ward, 2006; Peel and Lloyd, 2005). The purpose of this chapter is to critically examine the ideological basis and context for the introduction of BIDs in Britain by examining the preceding and parallel practices of town center management. Commonly referred to as TCM, this is a generic term that encompasses a wider range of diverse management practices and development strategies in town and city centers. The chapter seeks to contrast the nature of the interrelationships of the two approaches, and to explain the consequential receptivity to the BID model in British urban policy. Finally, this chapter seeks to demonstrate what may be described as the emergence of a new contractualism in local urban governance, urban revitalization, and economic development in the public domain in Britain.