Going from 2 websites to only 1 website. What is the process?

I have 2 websites that I am paying for. I only need 1 website now. How do I take the one offline and only keep the one that I need? I only want to pay for 1 website. Can I disable the site and Squarespace still hold it even though it's offline? Not sure how all this works 

In general a site that is not being paid for may eventually be deleted by SS.

To take a site offline you make it Private.

To stop paying for a site cancel the subscription.