Whether it's Sadie Hawkins' Day or Bachelor's Day or the law decreed by Queen Margaret of Scotland in 1288 (there's an important hint here about an additional requirement to help you find it once solved), the leap day, known to some only as February 29th, is an event celebrated in many ways, even allowing women to <gasp> propose to men, a complete reversal of traditional roles, or you can celebrate it with the tenth, hundredth, or thousandth time you drop your new found cache in the snow.
There is nothing to be found at the posted coordinates. Don't go there.
Please note cache description updated after publication so you all don't treat it like some difficulty 5 puzzle.