Preheat oven to 350F. Butter and flour bottom and sides of 9- or 10-inch springform pan; set aside.

Combine flour and 3/4 cup sugar in large bowl. Cut in butter with pastry blender or fork until mixture resembles coarse crumbs. Measure 1 cup of this mixture into small bowl. Add almonds; mix together and set aside. To remaining crumb mixture in large bowl, add baking powder, baking soda, salt, sour cream, 1 egg and almond extract. Blend well. Spread over bottom of prepared pan, forming well in center about 1/2-inch deep and about 1/4-inch thick around sides.

Filling

Combine cream cheese, 1/4 cup sugar and 1 egg in small bowl; blend well. Pour over batter in pan. Carefully spoon preserves evenly over filling. Sprinkle reserved crumb and almond mixture over top. Bake at 350F for 45 to 55 minutes or until topping is deep golden brown. Remove to wire rack and let stand for 15 minutes. Remove sides of pan. Cut in wedges and serve warm or cool. Store in refrigerator.