It seems that things are booking up quickly for the May 14 weekend -- and that many of the hotels close to the convention centre are rather expensive! Thanks to Jutta Treviranus, I have the following short list of budget suggestions that are close to the University, and thus not too far from the Convention Centre.
The following offer rooms with private bath and breakfast for under $100 Canadian (all with 416 area code):
Descriptions for all these and many more can be found at http://toronto.com. Look for "Toronto - downtown" hotels. The TTC (Subway/Bus/Streetcar) and cabs can get you places fairly fast. Toronto is a very safe city, the seedier area is east of Yonge St. between Gerrard and Wellesley but you wouldn't recognize it as such if you happened to end up there.
If anyone has problems finding a place to stay, please contact me and we can help you out.