Many TM motors had Poly Vee pulleys and belts.
Ideally you do not require the flywheel and it will impair the ability to control the spindle in a fast manner.
If there is a fan attached to the flywheel it would be better to put one on separately and remove the flywheel, you can then go with standard timing belt which are available from almost any local bearing dealer.
Al.
CNC, Mechatronics Integration and Custom Machine Design
“Logic will get you from A to B. Imagination will take you everywhere.”
Albert E.