They explain:
For numerous reasons and after careful consideration of all the issues involved, the CDTST trustees have decided that unfortunately it is not feasible for the proposed cycle track to go ahead.
The research that we have done and the negotiations that we have had has lead us to believe that the work is untenable.
We thank everyone who took the time to respond with their comments about the intended project.
Crosspool News - crosspool.info 
Why is it untenable exactly?