New York Admin: Not having been to the cache myself its my educated guess its inside the base of a light pole. Apparently something has recently gone wrong with the pole shorting out the wires carrying electricity up to the light. I'm going to go ahead and archive this cache before someone is electrocuted.
This cache is a perfect example why geocaches should not be placed in or on electrical equipment. While they are designed to be safe things will and do go wrong.
If the cache owner wishes to move this cache out of and away from any electrical equipment in a timely manor it may be unarchived providing it meets the current guidelines.