Preheat oven to 350°.
Make the crust by combining flour, 1 ½ cups sugar, baking powder and salt in a large bowl.
Add 1 stick melted butter and stir to combine.
Add the egg and milk and stir to fully incorporate.
The mixture should be crumbly and evenly moistened.
Evenly press the crust mixture into a greased or sprayed 9x13” baking dish.
Pat down well so the ingredients adhere together well.
Set aside while the topping is prepared.
To prepare the topping, combine softened cream cheese, ¼ cup melted butter, eggs, vanilla, lemon juice and powdered sugar and mix with electric mixer until smooth.
Pour topping over the prepared crust and spread to completely cover the crust.
Prepare peaches.
Spread the peaches over the top of the filling.
Combine ¼ cup sugar and cinnamon and spread over top of the peaches.
Bake at 350° for 65-70 minutes.
The dessert is done when the topping is set in the middle and not jiggly.
Remove the dish from the oven and cool at least 30 minutes.
Sprinkle with powdered sugar, if desired.
Cut into bars.
Refrigerate leftovers.