Heat the milk in a small saucepan until bubbles form around the edge. Remove from the heat. Cool until lukewarm. Put the warm (105 degrees-115 degrees) water in a large bowl. Sprinkle the yeast over. Stir until dissolved. Add the lukewarm milk, sugar, salt, butter, eggs, egg yolk and the first measure of flour. Use an electric mixer at medium speed to beat until smooth and well blended. Use a wooden spoon to stir in the second measure of flour. Beat vigorously until the dough leaves the side of the bowl (about 2 minutes). Mix in the raisins. Cover with a towel. Preheat the oven to 350 degrees. Let rise in a warm place until doubled in bulk (about 1 hour). Grease and flour a (9 inch) springform pan. Turn the dough into the prepared pan. Cover with a towel. Let rise in a warm (85 degrees) place until the dough is about 1 cm from the t pan (about 1 hour). Prepare the topping: Beat the egg white with the water. Brush the mixture over the top of the babka. Mix the flour, sugar and cinnamon. Sprinkle on top of the babka. Bake until a cake tester inserted in the center comes out clean (about 60 minutes). Cool in the pan on a wire rack for 15 minutes. Remove the side and bottom of the springform pan. Cut into wedges. Serve warm.