Pushpa Bhat formed a committee to review the specifications for an upgraded Tevatron Beam Loss Monitor (BLM) system. The committee consisted of Mike Martens (Chair), Jerry Annala, Brian Hendricks, Nikolai Mokhov, Dean Still, and Bob Webber from the Fermilab Accelerator Division, Carl Bromberg from CDF, and Ron Lipton from Dzero. The committee met on April 19th, 2004 where Stephen Pordes, Al Baumbaugh, and Craig Drennan presented talks on the specifications, initial design, and cost and schedule estimates. Following the talks there was a round table discussion with the committee members, presenters, and interested audience members. This report summarizes the conclusions and recommendations of the committee.