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You are not factoring in the paychecks of the employees of these "homeless programs". There is more spent on the employees by far than is ever "trickled downed" to the actual homeless people. The laptops, the offices, the paperwork, the meetings, the seminars, plus cars and vans, etc.
It has nothing to do with what happens to some lost soul out in the zero degree weather. That one poor soul supports at least four B.A. "social service" employees. It is a cottage industry.

If you read this article carefully, here is what you will see:

>>>Local programs for the homeless use the federal grants to obtain more funding from state and local governments and private donors, said Nan Roman, president of the National Alliance to End Homelessness.<<<

The HUD money is just a cachet to obtain more money via "more funding from state and local governments and private donors". It is the avalanche effect. HUD gives 1.4 BILLION. That will be met and matched by state, private, and local donations. How much gets to the homeless? Not much. I temped at one of these places for a few months; they are the spawn from hell. They are all solid DU candidates, and very unhappy and mean people, to boot. I was shocked when I was offered the position permanently. I laughed right in the board's faces. It was January and these people had just sent the "clients" out to stand at a bus stop in - ten degree weather. Not one of the "counselors" would get off their hung over butts and give those poor people a ride home. Twenty minutes tops.
Gawd, how I hate those leeches!