shelve
To decide not to continue with a plan or project.
To shelve something means to put it on a shelf, but more importantly, it means to set aside a plan or project, often indefinitely. When a movie studio shelves a film, they've decided not to release it, at least not right now. When a company shelves a product idea, they've stopped working on it, possibly forever.
The word captures that feeling of putting something away where you can see it but aren't actively using it. Imagine taking a book you're halfway through and placing it back on the shelf because you've decided to read something else instead. That's what happens when a school shelves plans for a new playground or when a writer shelves a half-finished story to work on a different project.
Sometimes things get shelved temporarily, waiting for a better time or more resources. Other times, being shelved is permanent, a polite way of saying “this isn't going to happen.” If your town shelves its plans for a new library, it might mean they'll revisit the idea when they have more money, or it might mean the idea is quietly being abandoned. Either way, shelved suggests something that's not officially canceled, but isn't moving forward either.