Mike wrote
What do you think of the rest of the design if I need to go that way?
I know your question is directed to JPG, but I would avoid cutting your frame rails if at all possible. I would consider reducing the wheel diameter in combination with shortening the stem and moving the wheel axle location closer to the swivel rotation axis.
What are the wheels made of? I would try removing the wheel, then make an arbor using a bolt to hold the wheel in the shopsmith and sand the wheels to a smaller diameter. Then, relocate the wheel axle pin up and over towards the stem. That, with shortening the stem could be enough.
May need to go with a wheel that's not as wide for it to lessen the rotational diameter. The diameter at the edges of the wheel is more than in the center of the wheel.
Thoughts?
Mike