As SPA_S2000 pointed out, there isn't much near the track in terms of attractions and accommodations. There are a few bed&breakfast nearby but the nearest motel is in town about 15-20 mins from the track and from what I hear, its a rather sleazy establishment. I would recommend the Holiday Inn in Oshawa which is about 25-30 mins from the track. It's quite popular with many of the clubs which use it as their HQ. There are also several other motels/hotels nearby.
For those bringing their families and if hanging around the track all day is not exactly their interpretation of fun, there are many interesting attractions in nearby Toronto to keep them amused all day long. The Toronto Zoo and Ontario Science Centre are a mere 30 mins away from Oshawa. There is also Canada's Wonderland (Canada's version of Disneyland) in Vaughan which is about 1 hr drive from Oshawa. Some of the popular Toronto attractions include; CN Tower, Sky Dome, Ontario Place and Harbourfront Centre. During the summer, there are all kinds of festivals (music, dance, theatre, etc) going on in the downtown entertainment district, many of which are free.
As for the track itself, I wouldn't necessarily say Mosport is any less forgiving than Watkins Glen. Both tracks are very fast and each have their own sections that demand the utmost attention and commitment from the driver. Get it wrong going up the esseses at the Glen and you'll be playing pinball with the armcor.Same with Mosport; do something silly through turn 2 and if you're really lucky, you'll only hit the tire wall instead of the concrete barrier.
If your club does decide to host a track event at Mosport next year, I'm confident your members won't be disappointed with the track. Although hosting it on a Tue/Wed, you may struggle filling the event with local drivers, especially if your event trails or precedes another club event that falls on a weekend. July is a busy month at Mosport. Trackmasters, PCA, FCA, Dexter and a few others all have typically held events in July.