It seems that rather than trying to fight the laws of economics with rent controls, special housing, and welfare programs, the focus should be relocation and job placement in less expensive areas.
It's unrealistic to try to get someone a low end job that will support them long term in one of the most expensive cities in America.
With the $1.2B bond measure, you could rent housing for every single homeless person in LA for a good 5 years in middle America. (less than $500 a month all in).