Feeding wildlife is already against state law, and the ordinance is meant to reinforce that law.
As urban deer populations in the city continue to grow, there are safety concerns. This growth not only brings in predators and increases the chances of animal/vehicle collisions, but it also increases the risk for the spread of disease.
The animals also become more comfortable around humans and feeding them might cause them to become more aggressive.
Leaving out hay, grain, minerals, salt or other foods for wild animals to eat is prohibited under the ordinance. The law would not apply to bird feeders, landscape elements, or persons running an animal shelter, education center or rescue.
You can read the City Ordinance at sterlingcodifiers.com/codebook/index.php?book_id=855&chapter_id=62711#s1310991
You can read about the State Law at cpw.state.co.us/learn/Pages/do-not-feed-wildlife.aspx
KOAA's original article is at koaa.com/news/covering-colorado/2018/11/28/feeding-wildlife-could-now-cost-you-500-in-colorado-springs/