914 Alfa conversion Options

[Powaqqatsi]

Hello there I'm new to the forum and I would like to start of with a basic question about the feasibility of my (hopefully) 914-project.
I want to buy a 914 in the coming 1 or 2 months and to fix it up to a reasonable state. And afterwards I want to start on a custom interior including A/C for this machine (and an up-to-date electrical system, I don't trust that old stuff).
The problem is: I'm a student who is on a limited budget (around €11.000/US$13250 can expand to around €14000/US$16875). The original 914 engines seem a bit old for my tastes (gas guzzlers and a tax/insurance problem for a young student like me who lives in Belgium since we have very high taxes and fuel prices) so I would like to be able to exchange the engine and transmission for a newer 1.8 or 1.6 twin spark Alfa Romeo 4-banger (around 144 and 120 bhp respectively). I could use the original VW/Porsche engines but I want this to be my daily driver so I want an engine which is a bit up-to-date and passes car and emission-control here in belgium. And uses less gas and costs me less in tax. More bang for the buck as they say. Now would it be possible to do this ? (these engines come out of an Alfa 145 or 155 which are FWD cars) Would it be possible with my budget (I don't want to invest the entire budget, if it costs less it's better of course) ?

thanks in advance,
powaq