1:17 here again. OP, here is the link to Disney's website where they list all of the deluxe villa accommodations. I'm sure that all of these would be much less expensive than a two-bedroom suite at the Grand Floridian. If you must be on the monorail, you could choose the Bay Lake Tower at the Contemporary resort. Personally, that wouldn't be my first choice because it doesn't have a fun "theme" for kids. There are lots of options to consider.
http://disneyworld.disney.go.com/resorts/benefits/groups/
Also, I would not do the meal plan if I were you -- from everything I have read, it is not a good value anymore unless you are huge eaters, plus it can be a pain to navigate the system. Just my opinion.